Companies announced 4 new projects in April, $2 billion in investments

More than 100,000 manufacturing jobs have been announced by companies since the Inflation Reduction Act (IRA) was signed into law after companies announced four new large-scale clean energy projects in April that are expected to hire nearly 1,500 manufacturing workers, according to the monthly tally of private-sector announcements from E2. The new projects are estimated to invest over $2 billion and bring the total number of projects announced since the IRA to 305.

Following is a statement from MICHAEL TIMBERLAKE, E2 communications director:

“America’s manufacturing sector is surging again, thanks to the clean energy transition. In the wake of IRA incentives and investments, clean energy manufacturing passed an historic marker last month. These are permanent, good-paying jobs that will benefit hundreds of communities in Red states and Blue states across the country.”

Among the projects announced in April was a $1.4 billion investment by Toyota to build a three-row electric SUV at its Princeton facility in Indiana and a $294 million investment by Boviet Solar to build its first solar manufacturing plant in North America in North Carolina that will employ over 900 workers.

In all, at least 305 major clean energy projects have been announced in 40 states and Puerto Rico since the IRA passed, according to E2’s analysis. Companies have also announced at least 105,454 new jobs and over $123 billion in capital investment for these projects. These figures reflect ongoing revisions to previous months’ announcement totals.

A full map and list of announcements is available at e2.org/announcements/.

April Highlights

  • Manufacturing projects accounted for all four announcements.
  • Indiana received the largest investment in April ($1.4 billion), and now ranks fifth for the most investment dollars announced for new clean energy projects with $7.8 billion.
  • The solar energy sector received the most announcements with two.
  • Two projects will be located in congressional districts held by Republicans and the two in Democratic-controlled districts.

Detailed below is a list of clean energy announcements tracked by E2 in April along with totals by state, sector, industry type, and congressional district for all projects announced since E2 began tracking in August 2022.

Clean Energy Works April 2024 | projects announced by date

Date Company/Org State Source Sector Type Jobs Investment
4/15 OMCO Solar AL Link Solar Manufacturing 70 $10,000,000
4/19 Topsoe VA Link Hydrogen Manufacturing 150 $400,000,000
4/26 Boviet Solar NC Link Solar Manufacturing 908 $294,000,000
4/25 Toyota IN Link EV Manufacturing 340 $1,400,000,000

Clean Energy Works | total projects announced by state Aug. 2022-April 2024

State Projects Jobs Investments
Alabama 7 1,420 $1,613,000,000
Arkansas 2 500 $250,000,000
Arizona 9 2,330 $5,901,000,000
California 13 160 $1,600,000,000
Colorado 7 2,382 $880,000,000
Connecticut 4 100 $24,800,000
Florida 2 250 $72,000,000
Georgia 27 15,481 $15,086,500,000
Iowa 2 0 N/A
Illinois 7 2,719 $2,563,500,000
Indiana 11 4,562 $7,816,000,000
Kansas 3 180 $110,000,000
Kentucky 8 1,149 $1,958,400,000
Louisiana 5 1,039 $1,713,500,000
Massachusetts 6 1,041 $45,700,000
Maryland 2 205 $14,000,000
Maine 1 200 $6,000,000
Michigan 29 12,170 $11,686,700,000
Minnesota 4 700 $155,000,000
Missouri 2 300 $100,000,000
Mississippi 3 2,340 $2,015,000,000
North Carolina 19 9,776 $19,524,459,000
Nebraska 1 0 N/A
New Hampshire 1 0 $16,300,000
New Mexico 6 2,542 $1,243,000,000
Nevada 6 5,250 $6,600,000,000
New York 12 2,799 $785,000,000
Ohio 18 4,854 $7,073,800,000
Oklahoma 6 1,490 $3,650,000,000
Oregon 1 0 N/A
Pennsylvania 2 157 $116,100,000
Puerto Rico 1 800 N/A
Rhode Island 1 0 N/A
South Carolina 24 13,589 $14,396,900,000
Tennessee 15 4,735 $5,283,700,000
Texas 21 8,811 $7,769,000,000
Utah 2 0 $1,000,000,000
Virginia 4 299 $445,500,000
Vermont 1 12 N/A
Wisconsin 6 262 $242,000,000
West Virginia 4 850 $1,335,000,000

Clean Energy Works | total projects announced by technology sector Aug. 2022-April 2024

Sector Projects Jobs Investment
Battery/Storage 68 23,946 $41,370,400,000
Biofuel 1 40 $0
Energy Efficiency 1 200 $6,000,000
EV 142 61,123 $81,227,700,000
Geothermal 1 0 $0
Grid, Transmission and Electrification 16 2,348 $1,809,859,000
Hydrogen 17 3,488 $5,542,800,000
Semiconductor 2 1,970 $5,375,000,000
Solar 69 25,157 $13,823,000,000
Wind 20 2,694 $2,952,500,000

*totals will not match overall figures as some projects are categorized into multiple sectors

Clean Energy Works | total projects announced by industry type Aug. 2022-April 2024

Type Projects Jobs Investment
Generation 37 3,744 $8,615,000,000
Manufacturing 254 100,950 $112,081,359,000
R&D 10 610 $453,000,000
Recycling 4 150 $71,000,000

Clean Energy Works | total projects announced by congressional district Aug. 2022-April 2024

Party Projects Announced Jobs Announced Investments
Republican 171 71,761 $105,179,100,000
Democratic 97 25,026 $15,362,800,000
Unknown 37 7,630 $2,549,959,000

Additional Resources:

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E2 is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org.

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