Schumer Press Release On The Inflation Reduction Act Continuing To Spur Historic Investments Across The Country

Following the signing of the landmark Inflation Reduction Act, the United States has experienced a historic breakthrough in investment in American manufacturing. Billions and billions of dollars of new and critical investments have been announced, and groundbreakings have already occurred across the country. Because of what Democrats and President Joe Biden delivered last year, Americans are seeing good-paying new jobs created in their communities. Below are just some of the new investments that are building on the previously announced projects following passage of the Inflation Reduction Act.

Senate Majority Leader Chuck Schumer released the following statement: “Thanks to the critical investments we made last Congress – and successfully fought to protect this year – communities in New York and across the country have seen historic new projects that will create thousands upon thousands of jobs, all while fighting climate change and re-establishing America as a leader in manufacturing. MAGA Republicans fought to destroy these vital investments, and I am proud we have been able to ensure that they are going nowhere.”

THE INFLATION REDUCTION ACT IS INCENTIVIZING BATTERY MANUFACTURING IN THE U.S., SHORING UP SUPPLY CHAINS AND PROMPTING INVESTMENTS AND NEW JOBS ACROSS THE COUNTRY.

My Fox 8 (NC): Toyota Ups Investment For Future Battery Plant At Greensboro-Randolph Megasite To $5.9 Billion. “Toyota is making its North Carolina investment even bigger as it prepares its future Liberty facility to manufacture batteries for a new line of electric SUVs. On Wednesday, Toyota revealed that the company would invest an additional $2.1 billion, increasing its total investment to $5.9 billion, to expand infrastructure at the Greensboro-Randolph Megasite, where the company plans to develop and produce lithium-ion batteries for electric vehicles.” [My Fox 8, 5/31/23]

WV Metro News: U.S. Energy Secretary Touts Federal Incentives At Groundbreaking For W.Va. Battery Plant. “U.S. Energy Secretary Jennifer Granholm joined the groundbreaking for the $760 million Form Energy industrial battery plant on site of the old Weirton Steel property, calling the development possible because of the federal Inflation Reduction Act.” … “Form Energy expects to start construction of its Weirton factory in 2023 and begin manufacturing iron-air battery systems in 2024 for broad commercialization. The $760 million initial phase in Hancock County is meant to produce 750 well-paying jobs.” [WV Metro News, 5/26/2023]

Fox 28 Savannah (GA):  Joint Partnership Between Hyundai, LG To Bring 3,000 Jobs To Georgia With Battery Plant. “A joint partnership between Hyundai and U.S LG Energy Solution will bring 3,000 jobs to the state of Georgia. The two companies have come to an agreement to build a EV Battery Plant. The plant will supply Hyundai's EV manufacturing site in Bryan County that is expected to start production in 2025.” [Fox 28 Savannah, 5/26/2023]

The Telegraph (GA): Maker Of EV Battery Materials Coming To Southwest Georgia With $800 Million Investment.  “A manufacturer of materials for the lithium-ion batteries used to power electric vehicles will invest $800 million in a plant in Southwest Georgia that will create more than 400 jobs, Gov. Brian Kemp announced Monday. Chicago-based Anovion Technologies supplies premium synthetic graphite, the largest battery material used in EVs by mass, exceeding copper, nickel, manganese, cobalt and lithium. The new 1.5-million-square-feet plant in Bainbridge will be the first of its size and scale in North America.” [The Telegraph, 5/15/23]

Reuters: GM, Samsung SDI To Invest More Than $3 Bln To Build Joint EV Battery Plant In US. “General Motors Co and Samsung SDI said on Tuesday they will invest over $3 billion to build a joint venture electric vehicle battery manufacturing plant in the U.S., as the automaker diversifies its component suppliers.” … “Expected to start in 2026, the joint GM and Samsung SDI plant aims to have an annual production capacity of 30 gigawatt hours (GWh), the two companies said in a statement, adding that the location of the planned JV plant is not yet decided. The plant will produce high-nickle prismatic and cylindrical battery cells.” [Reuters, 4/25/23]

Upstate Business Journal (SC): Borgwarner Announces $42.7M Investment To Expand Oconee County Operations. “BorgWarner, an automotive provider based in Auburn Hills, Michigan, will invest $42.7 million to expand its Seneca facility, the company announced April 19. This investment is expected to create 122 new jobs and will be used to upfit BorgWarner’s facility at 15545 Wells Highway to increase the company’s manufacturing capacity of EV battery systems in North America. The expansion is expected to be completed in 2024.” [Upstate Business Journal, 4/19/23]

Jackson Sun: 6K Energy To Bring World's First UniMelt Plasma Plant To Jackson, Creating 230 Jobs. “6K Energy, which produces an advanced plasma cathode system, announced Tuesday it will open a plant in Jackson, creating 230 new jobs in Madison County with an investment of over $200 million.” … “The investment represents the third largest investment for any industrial company in Jackson.” [Jackson Sun, 4/18/23]

FOLLOWING PASSAGE OF THE INFLATION REDUCTION ACT, AUTOMAKERS ARE BRINGING NEW AUTO MANUFACTURING FACILITIES TO THE U.S., CREATING THOUSANDS AND THOUSANDS OF JOBS

Electrek: GM Gearing Up For The New Silverado EV Pickup With $200M Parts Plant Investment. “General Motors (GM) is preparing to launch its new Silverado EV later this year with plans to build a $200 million electric vehicle parts plant. The new parts plant will support the production of GM’s new electric truck, which is expected to ramp up in the second half of the year.”… “The site would span 87.3 acres and would consist of 1.05 million square feet of EV parts and distribution space.” [Electrek, 5/1/23]

Spectrum News: EV Maker Rivian Investing $10M, Creating 218 Jobs In Bullitt County. “Kentucky's electric vehicle and manufacturing industries won't be hitting the brakes any time soon. Gov. Andy Beshear on Thursday announced that Rivian, an electric truck and SUV-maker, is creating over 200 job with a $10 million investment in Bullitt County. The EV maker will establish a remanufacturing facility in Shepherdsville, where it already stocks replacement parts at an existing 326,000-square-foot facility. The new remanufacturing operation will support warranty, repair and service needs for EV trucks, Beshear detailed in a news release.” [Spectrum News, 4/27/23]

Electrek: Bosch To Acquire TSI Semiconductors, Injecting $1.5B To Meet Sic Chip Demand For Evs. “The world’s largest auto supplier is expanding its semiconductor manufacturing capabilities to meet the growing demand for computer chips for electric vehicles. Bosch announced Wednesday that it is acquiring US chipmaker TSI Semiconductor and investing $1.5 billion to produce silicon carbide (SiC) semiconductors and enable the adoption of EVs.” … “According to Bosch, the full scope of the project is made possible and will rely heavily on federal funding opportunities.” [Electrek, 4/26/23]

THE INFLATION REDUCTION ACT’S EMPHASIS ON RENEWABLE ENERGY HAS PROMPTED INVESTMENTS ACROSS THE U.S. THAT WILL HELP GROW OUR ECONOMY WHILE COMBATING CLIMATE CHANGE

Times Union (NY): GE Hiring 200 For New $50 Million Turbine Line In Schenectady. “In a turnaround boosted by state and federal incentives for green energy, General Electric on Tuesday said they planned to hire 200 people to work at a new $50 million onshore wind turbine assembly line at the company’s downtown plant.” … “GE CEO Scott Strazik credited the Biden Administration and the Inflation Reduction Act for providing the certainty the company sought in building the new assembly line. ‘We applaud the administration for the recent domestic content guidance, which gives us the certainty to move forward on this exciting project and look forward to supporting additional guidance,’ Strazik said in a prepared statement.” [Times Union, 5/23/23]

Reuters: Italy's Enel To Invest More Than $1 Bln In Oklahoma Solar Panel Factory. “Italy's Enel SpA (ENEI.MI) said on Monday it will invest more than $1 billion in a solar cell and panel factory in Oklahoma, seeking to capitalize on a U.S. push to build a homegrown clean energy manufacturing sector to compete with China. The facility will be among the largest to produce solar equipment in the United States, where most projects are built with imported panels.”… “The investment is one of the biggest in solar manufacturing since the passage of U.S. President Joe Biden's landmark climate change law, the Inflation Reduction Act (IRA), last year.” [Reuters, 5/22/23]

WLTX (SC): $65.9M Investment, 300 New Jobs Coming To Sumter County. “Sumter County will be getting 300 new jobs and helping the nation go green in the process after it was announced that SEM Wafertech Inc and Solar4America Technology are establishing their first operations facility in South Carolina. SEM Wafertech Inc and Solar4America Technology are owned by SPI Energy Co., LTD., a global renewable energy source and the Sumter County location -- at 1150 Clipper Road, near the Privateer and Lakewood communities -- will help meet the demand for solar power across the United States.” [WLTX, 4/26/23]

Shreveport Times (LA): A Company Is Expanding Their Footprint In Shreveport By $28.5 Million. “On Tuesday, Prolec GE USA announced it would be investing up to $28.5 million to expand its Caddo Parish facility to manufacture electrical transformers used in wind farms, solar parks and other industrial and renewable energy applications. Prolec is one of the largest transformer productions in North America and designs, manufactures and sells products for electricity generation, transmission and distribution. This expansion will add additional production capacity in Shreveport and will help ease the transformer supply chain.” [Shreveport Times, 4/26/23]

The Gazette (CO): Pueblo Economy 'Growing' With Expansion Of World's Largest Wind Tower Manufacturing Site. “CS Wind, a South Korean-based wind tower manufacturing company, is expanding the world’s largest wind tower manufacturing plant in Pueblo with plans to create 850 jobs for the city over the next several years. The expansion of the site and job creation reinforces Pueblo’s manufacturing legacy and solidifies the city’s role as a key player within Colorado’s economy and renewable energy infrastructure, local and state officials said during the site’s ground-breaking at the start of the month.” [The Gazette, 4/16/23]

Jacksonville Business Journal (FL): Solar Panel Manufacturer Eyes Massive Expansion, Creating Hundreds Of Jobs. “A solar panel manufacturer that employs 250 people in Jacksonville after opening its doors here less than four years ago is eying a massive expansion of its facility - investing millions of dollars and creating hundreds of more jobs. JinkoSolar is looking to invest more than $52 million in renovations and expansion of its plant located at Cecil Commerce Center, one of two dozen facilities it has around the world. Once the project is completed, the facility would almost double its workforce, to more than 500 workers.” [Jacksonville Business Journal, 4/10/23]

KALB (LA): Ucore Invests $75M To Establish Rare Earth Metals Manufacturing Facility In Alexandria. “Ucore North America, a subsidiary of Ucore Rare Metals Inc., announced it is investing $75 million to establish North America’s first modern technology rare earth element separation and purification facility in Rapides Parish. The Louisiana Strategic Metals Complex will establish a U.S.-based supply chain of rare earth oxides required to manufacture electric vehicle motors, wind turbine generators and a variety of consumer goods including smart phones and power tools. The company expects to create 100 new direct jobs with an average annual salary of more than $50,000. Louisiana Economic Development estimates the project will result in 298 additional new indirect jobs, for a total of 398 new jobs in the Central Region.” [KALB, 4/6/23]

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