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Advanced Manufacturing Fueling Industrial Growth

by Mary Rooney | Oct 03, 2023

In the last three years, hundreds of major advanced manufacturing facility announcements were made across North America. The manufacturing development pipeline is at a record high, with more growth to come. With each new facility comes investment, development, jobs and steps towards solidifying and expanding critical supply chains. Recent investments, totaling a minimum of $100 million since 2020, resulted in approximately $400 billion in pledged advanced manufacturing investments, 210,000+ new jobs and a minimum of 250 million square feet of new industrial projects – all to come between now and 2030.

Four key advanced manufacturing sectors are driving the greatest volumes of investment and development, capturing more than 90% of the major investment pledged since 2020.

  • High-tech/digitalization
  • Automotive/transportation
  • Energy
  • Biomanufacturing

Key factors driving the location selection of advanced manufacturing facilities include availability of land, lower-cost power, logistics infrastructure, favorable business environment, geographical location and access to skilled labor.

Read the full report from Newmark

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