Yellen will visit Cleveland to tout Biden’s efforts to revive US manufacturing. | So Good News

Oct 26 (Reuters) – U.S. Treasury Secretary Janet Yellen will visit Cleveland on Thursday to promote the Biden administration’s economic initiatives aimed at reviving U.S. manufacturing, particularly in neglected cities, the Treasury Department said.

In her final campaign economic speech before the Nov. 8 U.S. congressional elections, Yellen will discuss the growth in Ohio’s manufacturing, infrastructure, and infrastructure provided by recent legislation. semiconductor devices; Investing hundreds of billions of dollars in research; and clean energy technology.

Yellen will join Ohio Democrat Senator Sherrod Brown to speak at the launch of the Manufacturing Advocacy and Growth Network (MAGNET), a Cleveland-based nonprofit incubator for small and medium-sized manufacturers.

Treasury said she will hold a roundtable discussion with Cleveland-area manufacturers.

Among the investments she will highlight are Intel Corp’s planned semiconductor manufacturing plant; This includes an initial $20 billion investment of $100 billion to become the world’s largest chip factory.

Yellen’s electric car manufacturing; He plans to discuss more than $100 billion in private sector funding for battery factories and infrastructure and charging infrastructure, made possible by clean energy laws.

Yellen added to the Treasury’s work to collect detailed guidance on clean energy tax credits, including $270 billion worth of clean energy tax credits, including local items. He met with Yellen on Wednesday, the first of several meetings with environmental and labor stakeholders. Pay rate specifications.

Reporting by David Lawder; Edited by Aurora Ellis.

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