Logistics Benefits from Clean Energy Boom under the Inflation Reduction Act

The <a href="https://www.irs.gov/inflation-reduction-act-of-2022">Inflation Reduction Act</a>’s Impact on Logistics

The Inflation Reduction Act’s Impact on Logistics

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When the Inflation Reduction Act (IRA) was signed into law in 2022, it was hailed as a groundbreaking U.S. climate legislation.

Primarily known for its focus on clean energy and sustainability projects, the IRA offers $400 billion in funding and tax credits to support these initiatives.

Over 300 major green manufacturing and clean energy projects have been initiated as a result of the IRA, contributing significantly to the resurgence of manufacturing in the United States.

Industrial Real Estate’s Second Wind

The industrial real estate sector saw a surge in demand during the pandemic, but that demand has normalized recently. Advanced manufacturing space is now in high demand due to the IRA and the CHIPS Act, which provide funding and tax credits for semiconductor manufacturing.

Rebuilding the Domestic Supply Chain

With the rise of new factories, there is a need to establish efficient logistics and distribution networks. This infrastructure development strengthens domestic supply chains and enhances supply chain resilience against various disruptions.

Driving a New Technology Boom

The clean energy boom is driving innovations in robotics, artificial intelligence, and electric vehicle technologies within the logistics, supply chain, and manufacturing sectors. These advancements are expected to enhance efficiency and sustainability in the industry.

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Read More of this Story at www.inboundlogistics.com – 2024-05-24 16:20:13

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