Wholesale distributors aiming to keep a close eye on large-scale projects that could impact product demand may benefit from a new government website mapping the infrastructure projects and manufacturing investments underway and funded by the Biden administration.
The website, Invest.gov, features an interactive map of the projects under the Inflation Reduction Act, the CHIPS and Science Act, the Bipartisan Infrastructure Law, and the American Rescue Plan.
For each project highlighted, the website summarizes jobs created, new businesses started, spotlights infrastructure projects and manufacturing investments made under the Biden presidency.
The White House said in a fact sheet that the website will be updated regularly to reflect relevant investments, projects and announcements.
The website launch was promoted by the president shortly before Biden starts on a public outreach effort. The “Investing in America” tour aims to show Americas the progress and efforts being made by Biden to invest in the country.
“‘Investing in America’ is more than just a slogan,” the AP reported Biden said to his Cabinet on June 6. “For the first time, America is actually investing in itself, beginning to pay off.”
Mentions alone of “reshoring” during S&P 500 earnings calls in the first quarter of 2023 were up 128% compared to the same quarter last year, according to a CNBC report which referenced analysis of earnings call transcripts by the Bank of America.
What factors are driving the uptick in reshoring and nearshoring? Check out these three key factors.