Manufacturing Today Issue - 215 August 2023 | Page 38

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Big-name companies are choosing to invest in US manufacturing as a result of the billions of dollars of subsidies coming out of the Inflation Reduction Act , and the CHIPs and Science Act in particular . Does this mark a new era of growth ?

US manufacturing is undoubtedly experiencing a resurgence , helped by policies put in place by the Biden Administration , but the questions now are ‘ is this a renaissance for US manufacturing ?’ and ‘ how long will it last ?’. As the US Government attempts to shore up the economy and protect it from potential geopolitical shockwaves in the future , with subsidies and incentives linked to the Inflation Reduction Act , and the CHIPs and Science Act in particular , it is undoubtedly stimulating manufacturing growth and investment in new facilities , particularly those dedicated to the production of semiconductors and electric vehicles ( EVs ). Recent announcements include GM and Samsung SDI unveiling plans to invest $ 3bn in a joint venture EV battery manufacturing plant in the US .
Furthermore , the US Government incentives have also coincided with a clear trend towards reshoring and diversifying
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