Industry News: US Manufacturing Boom VS Real Estate

In this recent article, Reuters, one of the largest news agencies in the world, reported on an unexpected challenge of the new manufacturing boom here in the US.

Multiple global manufacturers are looking to the US for several reasons, such as hefty governmental incentives, expanded transportation and energy technologies, and national security concerns relying on global suppliers. What they’re finding is that large parcels of construction-ready real estate (megasites) are difficult to find. Many of these parcels need to have several pieces in place, such as being adjacent to distribution hubs and having access to clean power.

There has been a big legislative push from the current administration to promote these expansions by the passing of the Inflation Reduction Act and the CHIPS Act just last year. What does this mean for Southern Oregon? Though we are seeing our local constraints echoed nationwide, we are also seeing the same efforts to evaluate local regulatory codes and to have active conversations for more land-ready real estate available. SOREDI is actively involved in these conversations and efforts for the long-term economic development of Southern Oregon, such as advocating to update various zoning codes and regulations to become more business friendly. SOREDI’s vision–To become the most business-friendly region on the West Coast. SOREDI’s mission–to advance business in Southern Oregon in order to foster economic vitality by helping companies and entrepreneurs Launch, Relocate and Prosper.