Swing States Reap Benefits of $114B Clean-Tech Investment

• Clean-tech investments surge in swing states following Inflation Reduction Act, shaping presidential election debate on climate policy and economic growth.

Since the Inflation Reduction Act passed in 2022, manufacturers have announced about $114 billion in clean-tech investment, with nearly half of the spending going to swing states, according to a BloombergNEF report. The IRA has been a central issue in the upcoming presidential election, with President Joe Biden's climate law facing opposition from Republicans and former President Donald Trump.

Six swing states - Arizona, Georgia, Michigan, Nevada, North Carolina, and Pennsylvania - are set to receive $53.6 billion in clean-tech factory investments. These investments include factories for electric vehicles, batteries, and components for renewable energy projects. Different states are attracting investment for various reasons, such as Michigan's large labor force and low-cost power, and Georgia's regulatory and fiscal support from local governments. The impact of these investments on the election outcome remains uncertain.

How has the Inflation Reduction Act impacted clean-tech investment in swing states?

• The Inflation Reduction Act has led to manufacturers announcing about $114 billion in clean-tech investment since its passing in 2022.
• Nearly half of this spending, totaling $53.6 billion, is going to swing states such as Arizona, Georgia, Michigan, Nevada, North Carolina, and Pennsylvania.
  
• These investments in swing states include the development of factories for electric vehicles, batteries, and components for renewable energy projects.
• Michigan is attracting investment due to its large labor force and low-cost power, while Georgia is benefiting from regulatory and fiscal support from local governments.
• The impact of these clean-tech investments on the upcoming presidential election remains uncertain, as the IRA and President Biden's climate law face opposition from Republicans and former President Trump.