Dual announcements yesterday gave industrial real estate's long-term prospects a significant boost, specifically those facilities that cater to EV and semiconductor manufacturing.
In one development, the Environmental Protection Agency issued new tailpipe pollution limits that ensures the majority of new passenger cars and light trucks sold in the US by 2032 are all-electric or hybrids. The rule phases in limits to the amount of pollution allowed from tailpipes over time so that in eight years more than half the new cars sold in the US would have to be zero-emissions vehicles for carmakers to meet the standards.
In the other, Intel described plans for a $100 billion investment to build and expand factories in four US states after it secured $19.5 billion in federal grants under the CHIPS Act and expects another $25 billion in tax breaks.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
