Record spending on manufacturing construction heralds a made-in-the-U.S. rebound, stoked by green-energy incentives and concerns about foreign supply chains; ‘this is here to stay’
Production at U.S. factories rose last year, but few things were produced at a more furious pace than factories themselves.
Construction spending related to manufacturing reached $108 billion in 2022, Census Bureau data show, the highest annual total on record—more than was spent to build schools, healthcare centers or office buildings.
New factories are rising in urban cores and rural fields, desert flats and surf towns. Companies that once relied exclusively on lower-cost countries to manufacture eyeglasses and bicycles and bodybuilding supplements have found reasons to come home.
He said the company is keeping its overseas factories but is adding a second in the U.S.—and maybe eventually a third—as it develops new products.
“There is more and more equity around ‘Made in the USA,’ ” said Mr. Shupe. “To me, this is here to stay.”
But last year U.S. production capacity showed its strongest growth since 2015 after pandemic-driven shortages and delays caused manufacturers to rethink their far-flung supply chains, said UBS industrials analyst Chris Snyder.
“Covid kind of pulled the covers off and showed everybody how much risk they were exposed to,” Mr. Snyder said.
Today U.S. manufacturing employment is holding steady at about 10% of the private sector, according to the U.S. Bureau of Labor Statistics, with nearly 800,000 jobs added in the sector over the past two years. The total number, 13 million, was virtually unchanged in the latest BLS jobs report.
It’s about time. Did this start in Trump’s first four years?
A WH pre-planned Strategy, Trump 47 kicks the FR in the butt, then opens oil and coal back up...
Anecdotal, but I work for a medical device manufacturer and the last four months we've had exceptionally good sales numbers.
Record spending on manufacturing construction heralds a made-in-the-U.S. rebound, stoked by green-energy incentives and concerns about foreign supply chains; ‘this is here to stay’ Production at U.S. factories rose last year, but few things were produced at a more furious pace than factories themselves. Construction spending related to manufacturing reached $108 billion in 2022, Census Bureau data show, the highest annual total on record—more than was spent to build schools, healthcare centers or office buildings. New factories are rising in urban cores and rural fields, desert flats and surf towns. Companies that once relied exclusively on lower-cost countries to manufacture eyeglasses and bicycles and bodybuilding supplements have found reasons to come home. He said the company is keeping its overseas factories but is adding a second in the U.S.—and maybe eventually a third—as it develops new products. “There is more and more equity around ‘Made in the USA,’ ” said Mr. Shupe. “To me, this is here to stay.” But last year U.S. production capacity showed its strongest growth since 2015 after pandemic-driven shortages and delays caused manufacturers to rethink their far-flung supply chains, said UBS industrials analyst Chris Snyder. “Covid kind of pulled the covers off and showed everybody how much risk they were exposed to,” Mr. Snyder said. Today U.S. manufacturing employment is holding steady at about 10% of the private sector, according to the U.S. Bureau of Labor Statistics, with nearly 800,000 jobs added in the sector over the past two years. The total number, 13 million, was virtually unchanged in the latest BLS jobs report.