 Jan. 2, 2024 | Today’s news and insights for manufacturing leaders | NOTE FROM THE EDITOR With new sources of federal and state funding and tax credits available for sectors like clean energy and semiconductors, 2023 was a lucrative year for manufacturers to embark on new facility plans. Understanding the ins and outs of those opportunities and how to qualify for them has turned into a maze, however. This has become particularly tricky when looking at lucrative tax credits like those offered in the Inflation Reduction Act and CHIPS and Science Act. New proposed regulations also affected other aspects of the industry, such as the use of PFAS chemicals and overtime pay. Many companies are seeking guidance on how to ensure their facilities remain compliant with new regulations on what they can produce and how they should pay employees. So how are manufacturers navigating these new rules, and what do others need to know? We’ve spent the past year asking experts and stakeholders these questions. As we kick off the new year, we’re looking at the many ways manufacturers are tackling, taking advantage of and remaining compliant with new industry regulations. |
 | Kate Magill
Lead Editor, Manufacturing Dive
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The long-awaited proposed guidelines clarify how the law’s “foreign entity of concern” requirements will impact automakers’ ability to qualify for EV tax credits. |
A prohibition on sourcing material from “foreign entities of concern” is causing apprehension among companies reliant on China, a critical mineral powerhouse. |
Solar panel and battery manufacturers can receive a tax credit on a percentage of their production costs until 2033. |
Companies should start preparing for the possible change now to avoid future compliance issues, one expert tells Manufacturing Dive. |
Companies should know whether they will reclassify workers or raise wages should DOL finalize its proposal, Cozen O’Connor’s Mariah Passarelli recommends. |
The proposed rules aim to give taxpayers electing to receive a direct payment “procedural certainty.” |
Many companies aren't aware of the $10 billion in available IRA tax incentives for facility investments, one expert said. |
The Environmental Protection Agency estimated it will take the industry 11.6 million hours, or $800 million, to comply with the reporting rule. |
As more states regulate the use of PFAS in everyday items, producers must explore alternatives and navigate the added costs and processes of the shift. |
 | With customer expectations on the rise, managing your manufacturing operation with manual processes doesn’t cut it anymore. Learn how to modernize your operation for growth in this webinar. |
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