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Corporate Tax Breaks Surge in Push for Chip and Electric-Vehicle Factories

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Corporate Tax Breaks Surge in Push for Chip and Electric-Vehicle Factories

  • By Konrad Putzier

U.S. state and local governments have agreed to give out at least $1 billion in subsidies in 2022. The subsidies went to companies in return for opening factories within those jurisdictions. A primary reason for the incentives is that there are more projects under way as manufacturers are looking to move factories to the United States and producers of electric vehicles, batteries, computer chips, and solar panels are racing to find U.S. sites to meet demand and receive federal subsidies.

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