The Biden administration's CHIPS Act is pumping money into chip manufacturing construction at an historic rate. According to a recent report from the U.S. Census Bureau, the growth of computer and electrical manufacturing construction funding is so great that the U.S. government will add as much funding to the sector in 2024 alone as it did in the prior 27 years.
A recent tweet by Martin Chorzempa, Senior Fellow at the Peterson Institute, called attention to the surge and illustrated the meteoric spending growth of the last few years. (Be sure to expand the embedded tweet to see the full graph.) Note that the numbers shown represent realized spending numbers on construction — not just budgeted prices.
