Biden to tout $500 billion invested in manufacturing and clean energy during his presidency

President Biden will announce Thursday that private companies have invested more than $500 billion in manufacturing and clean energy during his administration as he travels to South Carolina. 

A White House fact sheet attributed the investments to “Bidenomics” — a new slogan the administration is using to describe the president’s economic achievements. 

During his visit to South Carolina, Biden is particularly expected to highlight a new manufacturing partnership between solar and battery firm Enphase Energy and manufacturing firm Flex. The White House said the partnership is expected to create 600 new jobs in South Carolina and 1,800 nationwide.

The White House also knocked Republicans who represent the state in the U.S. House and Senate, citing their votes against key pieces of legislation that were expected to spur climate-friendly energy and other manufacturing. 

“If Republicans in Congress—including every Republican Member of the House of Representatives from South Carolina—had their way, South Carolina would have lost out on billions of dollars in investments, jobs, and opportunity,” said a fact sheet from the Biden administration. 

“Every South Carolina Republican Member of the House of Representatives who was in office at the time…voted against the American Rescue Plan, the Bipartisan Infrastructure Law, the Inflation Reduction Act, and the CHIPS and Science Act. And Republican Members of the House voted to overturn the Inflation Reduction Act’s clean energy tax credits in April 2023—doubling down on their opposition at a time when manufacturers were investing in their state,” it continued.