Factory Boom Sweeps US With Construction at Record $190 Billion
- Manufacturing share of construction spending at 30-year high
- Surge of investment follows incentives for US-made chips, EVs
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The US is in the grip of a factory-building boom as government incentives to spur domestic manufacturing, aimed at helping the economy compete with China, drive a wave of investment.
Construction spending by manufacturers in the US has more than doubled in the past year, reaching an annual rate of almost $190 billion in April, according to data published Thursday by the Census Bureau.