Boost in US Manufacturing Spurs Construction Boom
The push to enhance U.S. manufacturing, especially for semiconductors and clean energy technology, has spurred a construction boom, the latest CommercialEdge industrial report notes.
commercialedge industrial report Manufacturing construction spending hit $233 billion in April, more than doubling in two years.
This boom is driven by manufacturers aiming to strengthen supply chains and reduce outsourcing, supported by two key laws. The CHIPS and Science Act offers tax credits for domestic semiconductor production, while the Inflation Reduction Act funds and incentivizes U.S.-made clean energy technology. Manufacturing construction spending reached $233 billion in April 2024, more than doubling in two years, according to the U.S. Census Bureau. CommercialEdge data shows manufacturing comprises more than 30 percent of industrial space underway (124.8 million square feet).
The push to enhance U.S. manufacturing, especially for semiconductors and clean energy technology, has spurred a construction boom, the latest CommercialEdge industrial report notes.
commercialedge industrial report Manufacturing construction spending hit $233 billion in April, more than doubling in two years.
This boom is driven by manufacturers aiming to strengthen supply chains and reduce outsourcing, supported by two key laws. The CHIPS and Science Act offers tax credits for domestic semiconductor production, while the Inflation Reduction Act funds and incentivizes U.S.-made clean energy technology. Manufacturing construction spending reached $233 billion in April 2024, more than doubling in two years, according to the U.S. Census Bureau. CommercialEdge data shows manufacturing comprises more than 30 percent of industrial space underway (124.8 million square feet).