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June 25, 2024 1:09 pm

Local News

One Year Later, Inflation Reduction Act Brings Clean Energy Investments and Job Growth


Staff Writer

One year after the passage of the Inflation Reduction Act, a once-in-a-generation investment in the climate and clean energy, it is clear that the landmark law has already had positive impacts on the national and state economies. As of July 2023, the IRA has already created over 170,000 new clean energy jobs, and is expected to create an additional 1.5 million jobs over the next decade.

Here in Michigan, the state is one of the largest beneficiaries of the IRA induced clean energy economic boom. Across the country, Michigan boasts the largest number of new clean energy projects, with 24 new projects underway.

Since passage of the IRA, the state has invested over $21 billion in clean energy projects, and nearly 16,000 new, good-paying jobs have been created since the IRA’s passage, as of July 2023. These projects are expected to create over 167,000 new jobs over the next 10 years.

One of the largest beneficiaries of these gains is the state’s growing electric vehicle (EV) industry. A myriad of projects have been announced since the IRA became law, including projects to build EV batteries and other car parts.

Read here for more information about the IRA’s impact on Michigan.