Dive Brief:
- Seven companies announced major clean energy manufacturing and research and development projects in March totaling about $2.1 billion, according to a report of last month’s project announcements from environmental and economic advocacy group E2.
- Leading the projects were a $1.5 billion investment by AESC to expand electric vehicle battery manufacturing operations in South Carolina and a $435 million graphite anode manufacturing plant investment by Graphite One in Ohio.
- The new projects, which were solely in the EV and battery and storage sectors, will create 1,720 jobs across six states.
Dive Insight:
To fund the race towards clean energy, the Biden administration has been dishing out incentives such as tax breaks and direct funds to private companies. Earlier this month, the Department of Energy, Treasury Department and Internal Revenue Service jointly unveiled $2.7 billion in tax credits for clean energy manufacturing and recycling projects across the country.
“Following another strong jobs report last week, the clean energy economy is once again showing no signs of slowing down. Federal clean energy investments in the IRA are working; they are spurring private investment, thousands more jobs in America’s resurgent manufacturing sector,” E2 Federal Advocacy Director Sandra Purohit said in an April 11 statement.
South Carolina leads country in 2024 clean energy investments
The Department of Labor saw no change in the number of manufacturing employees in March compared to the previous month, but did see a year-over-year change of an additional 24,000 jobs in 2024.
Michigan continues to lead the country in clean energy projects since the IRA was passed, taking two of the seven manufacturing or R&D investments announced in March. Since the law’s passage in August 2022, companies in the state have announced 29 projects worth more than $11.6 billion in private-sector investments, creating over 12,000 jobs, according to E2’s research.
Among the Michigan deals in March, Weller Trucker Parts announced plans to add 130 new jobs for a new manufacturing facility to meet growing demand for EV components. South Korea-based EV parts supplier LT Precision also invested $43.2 million in a manufacturing facility in Holland.
Elsewhere in the country, H&T Recharge and Panasonic paired up to build a $110 million battery components facility in De Soto, Kansas. Blink Charging also announced plans to produce EV chargers in Bowie, Maryland, creating 60 new jobs.
