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Submitted by cdp-inc on September 8, 2022 - 9:52am

Two new bills signed into law in August will positively impact construction industry projects.

The Inflation Reduction Act of 2022 includes:

The CHIPS and Science Act provides $52.7 billion for American semiconductor research, development, manufacturing, and workforce development, including 25% tax credits to companies that build semiconductor facilities on United States soil.

According to ConstructionDive.com, at least 5 major projects are poised to benefit from the CHIPS Act via subsidies and tax credits:

Dodge Data & Analytics chief economist Richard Branch, said the CHIPS Act will “keep the construction sector on sure footing as the economy slows over the next year.”