IPC International Community magazine an association member publication
Issue link: https://iconnect007.uberflip.com/i/1518652
IPC COMMUNITY 10 SPRING 2024 4. Sustainability and green manufacturing: There's a growing emphasis on sustainable and environmentally friendly manufacturing prac- tices, driving the construction of green facilities that adhere to these principles. 5. Green transition infrastructure needs: The push toward a green transition necessitates the manufacturing of essential components such as batteries and chargers, driving the construction of facilities dedicated to producing these key ele - ments needed to fuel sustainable energy solutions. 6. Shift toward customization: The demand for customized products is leading to the need for more versatile manufacturing facilities that can quickly adapt to changing production require - ments. 7. Pandemic-related investment catch-up: The postponement of investments during the pan- demic is now being addressed, with companies undertaking previously delayed projects to up- grade and expand their manufacturing capabilities. The electronics sector is playing a pivotal role in the surge of manufacturing investment in new U.S. plants and facilities. Last year, roughly $1.54 trillion in total private construction was completed—a 4.7% increase from 2022. Over this same period, manufacturing construction soared. Manufacturing recorded $195 billion in completed construction during the year, a 71% increase over 2022. Consequently, manufactur- ing rose from 7.8% of total private construction in 2022 to 12.7% in 2023, further highlighting the sector's expanding impact. Driving this spike in manufacturing is an incredible rise in construction spending in the computer, electronics, and electrical manufac- turing sectors. The computer and electronics sectors are responsible for producing com- puters, peripherals, communications devices, and related electronic items, along with their components. The electrical sector focuses on creating goods that produce, distribute, and utilize electrical energy. This includes compa- Electronics manufacturing is fueling a surge in U.S. construction activity. (Source: U.S. Census Bureau, Author's calculations)