Manufacturing-related construction is surging in the U.S., with spending in the sector up nearly 60% year over year in December. For semiconductor and clean technology manufacturing, investments in the sector have doubled since 2021, and are up nearly 20 times the amounts allocated in 2019, according to Deloitte.
This growth is reflected in the wide range of noteworthy manufacturing construction projects underway across the country. From Intel to LG Energy Solution, here are seven ongoing projects to watch in 2024.
Texas Instruments
- Product: Semiconductors
- Investment: $11 billion
- Location: Lehi, Utah
- Timeline: Construction began in the second half of 2023 and production is expected to begin by 2026
As the largest economic investment in Utah history, Texas Instruments is expanding its current facility by constructing a new 300-millimeter semiconductor wafer fabrication plant near its existing fab on the manufacturing campus. Once completed, the two facilities will operate as a single fab.
The project is expected to create 800 new jobs and thousands of indirect jobs in the region.
Intel
- Product: Semiconductors
- Investment: $20 billion
- Location: Chandler, Arizona
- Timeline: Construction began on the plant in late 2021, and is slated to be finished and fully operational in 2024
Intel is expanding its manufacturing activities in Arizona with two new factories, dubbed Fabs 52 and 62.
The project is part of a $50 billion investment in the state over more than four decades. The expansion is expected to create over 3,000 high-tech, high-wage Intel jobs, along with 3,000 construction jobs. The facilities are also estimated to create 15,000 indirect jobs within the local community.
Other chipmakers have also made recent investments in Arizona, including TSMC’s $12 billion fab that is scheduled to begin production in 2025.
LG Energy Solution
- Product: Batteries
- Investment: $5.5 billion
- Location: Queen Creek, Arizona
- Timeline: The initial footing and foundation work began in October 2023 and vertical construction is anticipated to begin in early 2024
LG Energy Solution is building a battery manufacturing complex in Arizona, with plans for two facilities. The first facility, an investment of $3.2 billion, is designed to manufacture cylindrical batteries for electric vehicles. The second facility, with an investment of $2.3 billion, will manufacture lithium iron phosphate batteries for energy storage systems.
The two facilities combined are estimated to create 3,700 jobs.
VinFast
- Product: EVs
- Investment: $4 billion
- Location: Chatham County, North Carolina
- Timeline: Construction began in July 2023 and is scheduled for completion in 2025
Vietnam-based EV maker VinFast is constructing a facility to produce up to 150,000 vehicles a year. The plant is expected to span 1,800 acres.
The project is expected to generate 7,500 jobs. VinFast touted the project as North Carolina’s first EV manufacturing facility and the largest economic development initiative in state history.
Amkor
- Product: Semiconductor packaging and test services
- Investment: $2 billion
- Location: Peoria, Arizona
- Timeline: The first phase is expected to be operational in the next two to three years
Amkor Technology announced in November plans to build an advanced packaging and test facility. The project is expected to cover 500,000 square feet and create 2,000 new jobs.
This is one of the largest microchip investments announced in Arizona since the passage of the CHIPS and Science Act in 2022, Arizona Sen. Mark Kelly said in a statement.
Amkor has worked closely with Apple for the project and the company will be its first and largest customer.
Waaree Energies
- Product: Solar panels
- Investment: $1 billion
- Location: Brookshire, Texas
- Timeline: Initial production is expected to begin by the end of 2024
The India-based solar panel manufacturer announced plans in December for its first U.S. solar module manufacturing plant in Texas.
This will be one of the largest solar module manufacturing facilities in the U.S. and the company is planning to add an integrated solar cell facility by 2025.
The project is expected to create over 1,500 new jobs when fully operational, which is slated for 2027.
Cummins, Daimler Trucks and Paccar
- Product: Batteries
- Investment: $3 billion
- Location: Yet to be announced
- Timeline: Yet to be announced
Cummins, Daimler Trucks and Paccar announced a joint venture in September to manufacture LFP batteries for commercial electric trucks. Each partner will have a controlling interest and own a 30% stake in the project.
“This planned joint venture enables economies of scale beyond Daimler Truck,” Daimler Truck CEO Martin Daum said in a statement. “It is a key puzzle piece of our battery industrialization strategy, ensuring access to the right battery cell technology at the right cost.”
