Tech giants plan to spend billions to construct new plants, data centers

Abstract

Tech companies are influencing a boom in different types of construction, namely massive data center and manufacturing projects. Manufacturing construction starts, which include semiconductor plants, electric vehicle factories and food-related production facilities, reached a record $41.6 billion over the last 12 months ending May 2022. That's 161% more than the 12 months ending May 2021, according to Dodge Data & Analytics. The sector is booming in the U.S. as more and more American companies push to onshore their manufacturing capabilities. Massive proposed projects by tech giants include Samsung's $191 billion worth of chip plants in Texas, SkyWater Technology's $1.8 billion Indiana semiconductor plant and Panasonic's $4 billion EV battery plant in Kansas, among various other projects in the pipeline listed below. For its part, reached $1.4 billion through the first three months of 2022, a 29.2% increase from the first quarter of 2021, according to Dodge data. Massive projects in the sector include Meta's $1.6 billion investment and Google's data center expansion plans for this year.