This is pretty amazing. Biden needs to beat Trump or the Republican candidate over the head with this in 2024. In 8 months, more than 200 billion dollars in new tech investments have been announced.
From the article:
"Companies have committed more than $200bn to US manufacturing projects since Congress passed sweeping subsidies last year, as president Joe Biden’s effort to spark a new industrial revolution gains momentum.
The investment in semiconductor and clean tech investments is almost double the commitments made in the same sectors in the whole of 2021, and nearly twenty times the amount in 2019, according to data compiled by the Financial Times.
While the FT identified four projects worth at least $1bn each in these sectors in 2019, there were 31 of that size after August 2022. There has been more than $40bn in planned capital spending since the start of the year. Asian giants LG, Hanwha, and LONGI have all announced deals in the past month, taking total large-scale investments to $204bn on April 14.
“We see right now the tectonic plates are shifting with respect to investment in the United States,” said US energy secretary Jennifer Granholm this week, referring to the surge of investment in recent months.
The Inflation Reduction Act, which became law last August, includes $369bn of tax credits for clean technologies as the Biden administration of pledges to decarbonise the US economy. Another law passed last August, the Chips and Science Act, includes $39bn in funds to stimulate semiconductor manufacturing and $24bn worth of manufacturing tax credits. Both are also designed to break US dependence on Chinese supply chains." https://www.ft.com/content/b1079606-5543-4fc5-acae-2c6c84b3a49f