29% increase in new Industrial Manufacturing Planned Projects in May 2023; Minnesota new to Top 10
IMI SalesLeads has announced the May 2023 results for the new planned capital project spending report for the Industrial Manufacturing industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction, and significant equipment modernization projects. Research confirms 184 new projects in May as compared to 143 in April in the Industrial Manufacturing sector.
The following are selected highlights on new Industrial Manufacturing industry construction news.
Industrial Manufacturing – By Project Type
- Manufacturing/Production Facilities – 167 New Projects
- Distribution and Industrial Warehouse – 66 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 62 New Projects
- Expansion – 64 New Projects
- Renovations/Equipment Upgrades – 60 New Projects
- Plant Closings – 17 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- New York – 16
- Texas – 15
- Ohio – 13
- Indiana – 12
- Michigan – 9
- Minnesota – 8 (New to List)
- Pennsylvania – 8
- Georgia – 7
- Ontario – 7
- South Carolina – 7
Largest Planned Project
During the month of May, our research team identified 12 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.
The largest project is owned by Applied Materials, Inc., which is planning to invest $4 billion for the construction of a manufacturing, laboratory, and office facility in SUNNYVALE, CA. They are currently seeking approval for the project. Completion is slated for 2026.
Top 10 Tracked Industrial Manufacturing Projects
GEORGIA:
Graphite product mfr. is planning to invest $800 million in the construction of a manufacturing facility in BAINBRIDGE, GA. They are currently seeking approval for the project. Completion is slated for 2025.
PENNSYLVANIA:
A steel company is planning to invest $218 million in the construction of a manufacturing facility in ALIQUIPPA, PA. They are currently seeking approval for the project. Completion is slated for late 2025.
TEXAS:
Semiconductor mfr. is planning to invest $200 million for the expansion of its manufacturing facility in LUBBOCK, TX. They are currently seeking approval for the project.
MICHIGAN:
Automotive mfr. is planning to invest $200 million for the construction of a 1 million sf EV component manufacturing facility in AUBURN HILLS, MI. They are currently seeking approval for the project. Construction is expected to start in Summer 2023, with completion slated for late 2024.
MISSISSIPPI:
Wood products mfr. is investing $200 million in the construction of a manufacturing facility in BEAUMONT, MS. Construction is expected to start in the Summer of 2023, with completion slated for early 2025.
TEXAS:
Semiconductor component mfr. is planning to invest $185 million for the expansion, renovation, and equipment upgrades on their manufacturing facility in ROUND ROCK, TX. They are currently seeking approval for the project.
OHIO:
A steel company is planning to invest $145 million for an expansion of its manufacturing facility in MINGO JUNCTION, OH. They have recently received approval for the project.
TENNESSEE:
Industrial equipment mfr. is planning to invest $120 million for the renovation and equipment upgrades on their manufacturing facility in JEFFERSON CITY, TN. They are currently seeking approval for the project
ARIZONA:
Furniture mfr. is planning to invest $100 million for the construction of a 1-million SF manufacturing, distribution, showroom, and office campus on 107th Ave. in AVONDALE, AZ. They are currently seeking approval for the project.
KANSAS:
Tire mfr. is planning to invest $100 million for the expansion of its manufacturing facility in JUNCTION CITY, KS. They are currently seeking approval for the project.
About IMI SalesLeads, Inc.
Since 1959, IMI SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, IMI identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization, and plant closings in industrial facilities. The Outsourced Prospecting Services, an extension to your sales team, is designed to drive growth with qualified meetings and appointments for your internal sales team. Visit us at salesleadsinc.com.
