Nearly half of the manufacturing projects envisioned under the Inflation Reduction Act and CHIPS and Science Act have stalled, creating some uncertainty around the demand for logistics space.
According to a Financial Times investigation, 40% of the largest U.S. manufacturing investments announced during the first year of President Biden's industrial and climate policies have been delayed or paused. The White House offered more than $400 billion in tax credits, loans and grants designed to spur investment in technology.
A total of $84 billion of those projects have been delayed for at least two months and some have been paused indefinitely, the investigation found. Deteriorating market conditions, slowing demand and lack of policy certainty were cited as reasons for the delays.
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