Treasury Department Report Confirms SWACCA-Supported Infrastructure Laws Are Driving Surge in Construction Spending for U.S. Manufacturing
The U.S. Treasury Department released a new report confirming that key infrastructure bills that SWACCA has supported—including the CHIPS and Science Act, the Inflation Reduction Act, and the Bipartisan Infrastructure Law—are driving a surge in construction spending for manufacturing in the United States.
The report highlights several key points, among others, including that: (1) the surge in spending is principally driven by construction for computer, electronic, and electrical manufacturing—a relatively small share of manufacturing construction over the past few decades, but now a dominant component; (2) manufacturing construction is one element of a broader increase in U.S. non-residential construction spending; and (3) the surge appears to be uniquely American and is not mirrored in other advanced economies—a testament to the impact of the infrastructure laws passed in the last few years.
The full report from the Treasury Department is available here.
© 2024 Signatory Wall and Ceiling Contractors Alliance (SWACCA). All rights reserved.