Swing States Net Half of $114 Billion in Inflation Reduction Act Factory Investment
- Bulk of spending has gone to politically important states
- Future of IRA is central to upcoming presidential election
An employee solders solar panel cells at a manufacturing facility in Dalton, Georgia.
Photographer: Elijah Nouvelage/BloombergThis article is for subscribers only.
About $114 billion in clean-tech investment has been announced by manufacturers since the Inflation Reduction Act passed in 2022, with almost half the spending in political swing states, according to a BloombergNEF report.
President Joe Biden’s climate law has been central to the upcoming election. No Republicans voted for it and Donald Trump has indicated he’ll challenge it. The IRA has jump-started economic development and job creation in states that are crucial in a presidential election, but it’s unclear whether the new manufacturing will translate into votes.