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illuminem summarizes for you the essential news of the day. Read the full piece on CNBC or enjoy below
🗞️ Driving the news: President Joe Biden visited a renovated wind tower plant in Belen, New Mexico, previously a Solo cup factory, on Wednesday
• He used the occasion to praise his green energy economic plan at the ceremony for the new facility by Arcosa, signaling renewed hope for American manufacturing
• The factory is expected to create 250 new jobs in New Mexico, a state where poverty is a significant issue
🔭 The context: The visit coincides with the year anniversary of the signing of the Chips and Science Act and the Inflation Reduction Act
• The latter reportedly enabled Arcosa to receive $1.1 billion in new wind tower orders, leading to the construction of this new plant
🌎 Why does it matter for the planet: The new factory represents a shift towards clean energy manufacturing in the United States, aligning with the administration's commitment to address climate change
⏭️ What's next: Biden's visit to the wind tower plant is part of a broader tour across the southwestern United States, where he is highlighting his administration's climate change initiatives
• This shift towards green energy is expected to continue as part of a broader national strategy
💬 One quote: “What Arcosa is doing here is part of a much broader clean energy manufacturing boom, it’s going to happen in big cities and rural communities as well. Whether you live in a blue state or a red state, I’m going to keep my promise.” (President Joe Biden)
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