U.S. Census Bureau data reveals that spending on computer and electronics manufacturing construction reached $116 billion in November 2023 (seasonally adjusted annual rate). This now accounts for 55% of the total $209 U.S. manufacturing construction spending.
Since 2022, spending in the computer and electronics sector has seen a marked surge. The significant increase coincides with the signing of the CHIPS and Science Act into law in August 2022, which includes $280 billion in new funding to boost domestic semiconductor research and manufacturing.
Read more:
- U.S. Census Bureau, Construction Spending November 2023