It has factory construction in the United States It has experienced significant growthConstruction spending by manufacturers more than doubled last year. Insider reports: For April 2023, annual rate It reached 190 billion dollars Compared to $90 billion in June 2022, manufacturing accounts for 13 percent of nongovernmental construction. […] Factories are being built from deserts to resort towns as the United States tries to manufacture goods imported mostly from low-cost countries. Many battery and electric vehicle factories have sprung up in the Rust Belt, while solar panel and renewable energy plants are now located throughout much of the South and Southeast. The United States has employed nearly 13 million workers, producing nearly 800,000 jobs over the past two years. Bureau of Labor Statistics jobs report for May (PDF) However, as National Association of ManufacturersThe manufacturing skills gap — created by the labor market’s struggle to find highly technical and manual workers — could result in 2.1 million unfilled jobs by 2030.
Manufacturing, however, has accelerated its return to the U.S. from other countries over the past year. According to Kearney’s 2022 Reshoring Index, 96% of U.S. companies have shifted production to the U.S. or are evaluating offshore operations—up from 78% in the 2021 index. The sudden increase in factory construction is related to the CHIPS and SCIENCE Act of July 2022, which provides $280 billion in funding to boost semiconductor manufacturing, as well as the August 2022 Inflation Act. The IRA seeks to create new jobs. Manufacturing, construction, and renewable energy are estimated to create up to 1.5 million jobs by 2030. Construction spending in most areas of the U.S. economy, including office, health care, and education, has fallen by comparison. Housing construction also slowed amid a major slowdown in the pandemic’s housing market growth. According to Census Bureau data, manufacturing construction spending increased from January 2020 to April 2023 in all regions except New England and the Mid-Atlantic.