There was an American factory boom in 2023.
A real big one. We’re still waiting on the full number, but construction on manufacturing plants topped approximately $200 billion in private spending this year, which was approximately $80 billion more than in 2022. That big jump was due, in part, to the huge industrial policies being enacted by Washington, and ground being subsequentially broken on enormous EV battery plants and semiconductor chip fabs – industries that were targeted for growth by the Inflation Reduction Act and the CHIPS Act, respectively.
