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Reshoring and New Factories: Latest Plant Announcements in North America

Reshoring and New Factories: Latest Plant Announcements in North America

ATN BREAKING NEWS |

Reshoring and New Factories: Latest Plant Announcements in North America

October 8, 2026 | ATN Trade & Finance

The wave of North American factory investment that defined 2023 and 2024 has not reversed — it has shifted. Construction spending is off its September 2024 peak of $249.1 billion annualized, running at $167.8 billion as of July 2026, but the projects breaking ground right now are among the largest in US manufacturing history.

The Numbers Behind the Wave

US factory construction hit a record $243.4 billion in 2024, according to EngiMarket's reshoring tracker, and the 2026 rate, though lower, is still 2.7 times the 2019 baseline. Since 2020, more than 160 semiconductor-related projects have announced a combined $827.8 billion in US investment. Foreign direct investment in US manufacturing reached $121.8 billion in 2025 — 1.8 times the 2024 level. The share of manufacturers actively reshoring or nearshoring rose to 36% in 2026, up from 29% in 2025, with tariffs cited as the primary driver.

What Is Breaking Ground Right Now

The most significant recent groundbreakings are in pharmaceuticals and steel. Eli Lilly broke ground in September 2026 on its $6.5 billion Houston plant, which will produce oral GLP-1 drugs and peptide APIs. It is one of four US facilities totaling $27 billion that Lilly has committed to building, with an additional $6 billion site in Huntsville, Alabama set to begin construction in 2026 and a $5 billion Richmond, Virginia facility on the same timeline. Hyundai Steel broke ground in September on a $5.8 billion electric arc furnace steel mill in Louisiana — a 1,700-acre facility designed to produce ultra-low-carbon steel and strategically positioned ahead of potential USMCA steel content negotiations.

In semiconductors, TSMC has expanded its Arizona commitment to $265 billion across 12 facilities after adding $100 billion to the program in July 2026. Micron Technology began construction on its Fab 1 Phase 1 in Clay, New York in July 2026 — a $12 billion facility backed by $6.4 billion in CHIPS Act funding. Texas Instruments is targeting first production from its $11 billion Lehi, Utah fab this year, creating approximately 800 direct jobs.

Canada and Mexico

Canada's manufacturing picture is more mixed. Apogee Enterprises closed its Brampton, Ontario facility in September 2025 to consolidate production into its US northern facilities — a sign that tariff exposure is reshaping cross-border production decisions. In Mexico, January 2026 opened with $5.8 billion in announced investment, led by EV and automotive suppliers repositioning ahead of USMCA auto content negotiations. Rivian's $4+ billion Georgia plant (backed by a DOE loan secured in April 2026) is the largest greenfield EV facility currently under construction in North America, targeting 300,000 vehicles per year when Phase 1 is complete in late 2028.

What this means for businesses and suppliers: The reshoring wave is real but concentrated. Semiconductors, pharmaceuticals, and steel are drawing the largest commitments; clean-tech investment fell 17% in 2025 and another 24% in Q2 2026. For North American suppliers and logistics providers, the critical near-term question is whether the TSMC, Micron, and Lilly facilities come online on schedule — each represents a major new anchor customer for regional supply chains.

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