The Largest Facilities Under Construction in US

The industrial sector in the United States is having a resurgence, fueled by the enactment of the CHIPS (Creating Helpful Incentives for Production of Semiconductors for America) Act in August 2022. This legislation has led to a surge in investment across various projects, from semiconductor manufacturing to clean energy initiatives. A year after its passage, the US is on the path to industrial dominance, outpacing other nations in this growth.

Private Sector Investment Soars

Private companies have responded enthusiastically to the CHIPS Act, with over $511 billion in investments across the nation. This concerted effort is made with the hope of revitalizing American manufacturing, reversing the decades of offshore production. These investments span a wide range of sectors, including clean energy, semiconductor manufacturing, and biotechnology facilities.

Key Projects and Partnerships

So many new high profile projects are currently underway.

Entek EV Plant

An agreement with Clayco for a groundbreaking electric vehicle (EV) plant.

TSMC Semiconductor Facility

A $40 billion investment in a cutting-edge semiconductor facility in Phoenix awarded to Austin Commercial.

Eli Lilly Manufacturing Facility

A $1.6 billion project in Lebanon, Indiana, awarded to Fluor.

Agilent Technologies

Turner’s $750 million project for the Agilent Technologies facility in Frederick, Colorado.

Surge in Manufacturing Construction

Manufacturing construction spending has actually had an impressive 71% surge in the past 12 months through July, reaching approximately $201.5 billion on an annual basis. This amount of growth can be attributed to the CHIPS Act’s impact on stimulating manufacturing activity.

Sustainable Growth Outlook

Economists and industry experts, including Richard Branch, Chief Economist at Dodge Construction Network, are optimistic about the future. Branch emphasizes that there are no signs of this amazing growth slowing down. Public funding is pouring into the manufacturing and infrastructure sectors. Of course this will help propell expansion even more.

CHIPS Act Driving Growth

The CHIPS Act’s allocation of $52.7 billion for American semiconductor production, workforce training, and research and development has been a catalyst for this type of industrial renaissance. This includes manufacturing incentives, support for legacy chips, research and development funding, workforce development, and investment tax credits.

Promising Future Projects

A lot of projects, each worth $1 billion or more, are slated for completion in the coming months. This pipeline of projects is expected to maintain high building start rates in the industry. All of this shows a promising future for US manufacturing.