Reshoring Fuels U.S. Factory Construction Boom
A factory construction boom fueled by reshoring is surging in the U.S. The growth is being driven by a U.S. policy push to boost domestic clean-energy manufacturing, by global supply chain risk, and by the total cost of ownership (TCO) equation. Almost 60 percent of the spending is attributed to construction for chips, EV batteries and other electronic manufacturing.'
Manufacturing’s share of construction spending hit 30-year highs in April and May. U.S. construction spending by manufacturers has more than doubled in the past year, reaching an annual rate of almost $190 billion in April compared with $90 billion in June 2022.
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