Contract Surety

Let’s Build: Spokane, Flint, Kilgore…

10.09.2024

 

Construction for manufacturing is steadily pushing forward around the country–and not only in areas known for consuming national headlines. Big awards were recently announced in Spokane, Washington, Flint, Michigan and Kilgore, Texas. Catch-up on spending in the manufacturing sector as the CHIPS Act continues to spur action.

 

Reaching New Heights

Since it was signed into law in 2022, the CHIPS Act has generated 

$910 billion in private investments across the country, ranging from “biotechnology facilities and chip fabrication plants to electric vehicle battery factories and clean energy projects.” Among the recently announced manufacturing projects are:

“the $200 million Collins Aerospace facility expansion in Spokane, Washington, the $175 million Nanograf battery factory project in Flint, Michigan, and the $100 million Camfil advanced manufacturing facility in Kilgore, Texas…..”

 

The expanded capacity to manufacture products that usher in the future, adding jobs to local economies and shifting supply chain possibilities, is being celebrated in ground breaking ceremonies across the country. For example, in Spokane Washington, 80 new jobs are anticipated, and Matt Maurer, vice president and general manager for Landing Systems at Collins Aerospace sums up the positive vibes, noting “We celebrate this milestone today with our industry partners, customers, community leaders, and employees who are crucial in supporting this advancement in technological innovation and that of the local Spokane economy….This expansion is the latest development in the Pacific Northwest region in advanced technical innovation and manufacturing capacity to support the growing demand for our carbon brakes.”

 

Excitement’s in the air in Flint, Michigan too, over the $60 million federally funded grant project that will result in “one of the world’s largest silicon anode facilities,” as a plant is converted “to produce material for up to 1.5 million electric vehicle batteries per year….The development is expected to create 200 construction jobs and 150 permanent positions.” Action continues to cook up in Phoenix, Arizona, too, which despite record-setting heat, has become the country’s  top growth market for manufacturing construction: “Phoenix’s new facilities are expected to generate nearly 15,500 advanced manufacturing jobs.” Other major projects that have broken ground in the past year include: a $25 billion Samsung chip fabrication plant in Taylor, Texas; and, a $20 billion Intel semiconductor chips plant in Licking County, Ohio.

 

Though some regions have been more active than others, analysis by the Newmark Group has found that builds to spur U.S. based manufacturing are literally popping up around the country and sometimes in unexpected places:

 

 

  • …More than 160 jurisdictions across the U.S. are set to receive at least one new manufacturing facility, per the report…..Major manufacturing projects are cropping up around where they have the labor pool to do so … .Different stages of manufacturing operations — research and development, pilot plant and mass production — require different types of labor, and must be located accordingly. 

 

 

 

  • R&D facilities tend to be smaller and located near specific talent such as universities, but at the mass production level, they need a deep labor pool and access to an abundant power supply. Locations with affordable land, lower construction costs, favorable tax structures and financial incentives are most attractive for these types of manufacturing facility projects….

 

Getting In The Game?

Good! Whether or not manufacturing builds are on your radar, we can help build your capacity to score more work, starting today. Receive Free Business Credit Scores instantly, just for submitting this easy, speedy Pre-Qual for a surety line of credit in writing. 

 

Once qualified, grow your business strategically, as you leverage all the advantages of The Partnership Account® for Contractors from Colonial Surety Company, including: 

 

 

  • Written Bonding Limits: Receive your single and aggregate bonding limits in writing.
  • Instant Bid Bond Issuance: Gain the ability to issue your own bid bonds within minutes, using our power of attorney.
  • Real-Time Visibility: Log in anytime to your private dashboard to view your underwriting profile and insightful financial data in real-time.

 

 

Start the process, pre-qualify, and receive free credit scores by clicking here:

Yes Please: The Partnership Account® for Contractors

 

Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed. Let’s connect today: Colonial Surety.