Re-Build has raised $2.1 billion in new funding to “ensure the most innovative products can be made in America for generations to come,” the Massachusetts-based manufacturing accelerator said in a news release.
The investment, led by General Catalyst and JPMorganChase’s Strategic Investment Group, will allow Re:Build to launch new industrial startups and partner with companies to scale production of “hard tech products,” which will produce a “surge” of U.S. manufacturing jobs, Re:Build said.
The accelerator’s funding team has raised more than $4 billion to date, and the new capital will "support ambitious growth plans” across aerospace and defense, electrification, medical, energy and environment, and robotics and automation, per the news release.
“We started Re:Build because the deindustrialization of America is an economic failure and national security risk,” Re:Build Co-Executive Chairman and Co-Founder Jeff Wilke said in a statement. “This capital allows Re:Build to go faster and further than would otherwise be possible, and build a great manufacturing business and a platform for American industrial leadership.”
Re:Build employs more than 2,100 people in the U.S. and houses more than 2.4 million square feet of advanced manufacturing capacity, the accelerator said. It operates through end-to-end partnerships with companies to design, engineer and manufacture products, as well as by incubating industrial startups.
Facility announcements
Several manufacturers announced workforce and facility investments this week.
Hyundai Translead
Hyndai Translead said it would increase its investment in two new Illinois advanced manufacturing facilities to $600 million and expand its job commitment at the sites to 3,750 full-time positions.
The company announced in March that that it would spend more than $450 million to establish the two plants in Will County. At the time, it said the move would create 2,500 full-time jobs.
The expansion of its original commitment “reflects Hyundai Translead’s long-term confidence in Illinois and its continued focus on growing U.S. manufacturing capacity, strengthening its workforce, and serving customers more efficiently,” the company said in a news release.
Honeywell Aerospace
Honeywell Aerospace announced it will build a $500 million, 300,000-square-foot facility to expand its Tempe, Arizona campus.
It expects to hire 600 workers at the facility, which is scheduled to open in late 2028.
The new facility will include an integrated digital production system, modular robotics, automated inspection and digital twins. It will be powered by an end-to-end digital thread. The facility will support Honeywell Aerospace’s largest commercial and defense customers and most advanced products, per the news release.
Bracco
Diagnostic imaging manufacturer Bracco announced plans to invest $230 million to establish its first U.S. manufacturing facility for injectable contrast media in Sanford, North Carolina.
The project is expected to create 200 jobs and is part of the company’s efforts to bolster its supply chain in the U.S. — its largest market — while complementing its facilities in Europe, Asia and Canada, Bracco said in a news release.
North Carolina was chosen because of its “skilled workforce, established life sciences ecosystem and supportive environment for advanced manufacturing,” per the news release. The facility is expected to employ workers in manufacturing, engineering, technical operations, quality, warehousing and adminstration.
According to a news release from Gov. Josh Stein, the new jobs “could create a potential annual payroll impact of more than $20.6 million.” North Carolina awarded Bracco a 12-year Job Development Investment Grant for the project, based on meeting job creation and investment targets, Stein said.
Gradian
Gradian, which makes thermal management solutions, announced the opening of a $60 million, 500,000-square-foot manufacturing facility in Dayton, Minnesota.
The new facility, combined with the company’s plants in Maple Grove, Minnesota, and Guadalajara, Mexico, brings its total manufacturing footprint to about 780,000 square feet. In addition, Gradian expects to increase its total workforce from 150 to about 1,000.
Gradian said the Dayton investment will support growing demand from data center, industrial and commercial customers for liquid cooling, chilling and air handling solutions, as well as for commissioning products and prefabricated solutions. The facility will feature assembly lines, fabrication equipment and an end-of-line testing lab for the company’s chiller products.
"The Dayton expansion is a deliberate investment in our ability to meet the growing demands of mission-critical thermal management applications for our ever-growing customer base," Jason Ulett, Gradian’s chief operating officer, said in a statement. "At the core of this expansion is a vertically integrated operating model, enabling dedicated assembly and testing capabilities specifically designed to ensure quality, performance, and scalability."
