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Area Development - Site Selection, Facility Planning and Workforce Development

Federal Legislation Affects Companies’ Investment Plans

Companies looking to grow are facing an historically tight labor market and rising costs, but their plans to invest may be buoyed by recent government legislation.

Q1 2023
Most executives prefer to focus on their business rather than Washington, D.C., but the survey suggests that major federal bills recently signed into law are spurring robust and rapid movement in the private sector. Half of the respondents report that recent legislation will “greatly” or “moderately” affect their companies’ expansion plans.

Just drive around New Albany, Ohio, a northeastern suburb of Columbus, and you will see the visible impact of the 2022 CHIPS Act. Intel announced its plans for a $20 billion semiconductor manufacturing site in the area. Dirt is moving, roads are widening, and hammers are swinging. This is true on the Intel site and in all directions around it. CHIPS is driving real opportunity for companies and workers.

The Tulsa, Oklahoma, region is in the process of deploying more than $100 million in American Rescue Plan Act dollars. Much of this funding is being used on hard assets: aviation, ports, and wastewater systems. These investments will unlock more than 7,000 acres for development; nearly 60 percent of that land is targeted for industrial uses. ARPA is being used to accelerate the capacity for growth by decades.

Major federal bills recently signed into law are spurring robust and rapid movement in the private sector. The survey indicates that many companies are acutely aware of the opportunities these types of strategic investments create. While some businesses will benefit from the immediate expenditure of these dollars, countless more will benefit from the ability to expand through utilization of new infrastructure and real estate assets that will become available as a result of these projects. utilization of new infrastructure and real estate assets that will become available as a result of these projects.
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