61 New Food and Beverage Industry Planned Projects Continue Downward Slide
Industrial SalesLeads announced the October 2023 results for the new planned capital project spending report for the Food and Beverage industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction, and significant equipment modernization projects. Research confirms 61 new projects in the Food and Beverage sector.
The following are selected highlights on new Food and Beverage industry construction news.
Food and Beverage Project Type
- Processing Facilities – 33 New Projects
- Distribution and Industrial Warehouse – 34 New Projects
Food and Beverage Project Scope/Activity
- New Construction – 27 New Projects
- Expansion – 25 New Projects
- Renovations/Equipment Upgrades – 17 New Projects
- Plant Closing – 1 New Project
Food and Beverage Project Location (Top 10 States)
- California – 7
- New York – 6
- Texas – 5
- Kentucky – 4
- South Carolina – 4
- Michigan – 3
- North Carolina – 3
- Wisconsin – 3
- Arizona – 2
- Florida – 2
Largest Planned Project
During the month of October, our research team identified 5 new Food and Beverage facility construction projects with an estimated value of $100 million or more.
The largest project is owned by Louis Dreyfus Company, who is planning to invest $500 million for the construction of a soybean processing plant in UPPER SANDUSKY, OH. Construction is expected to start in early 2024.
Top 10 Tracked Food and Beverage Projects
FLORIDA: Specialty food product MFR. is planning to invest $200 million for the construction of a 400,000 SF processing and distribution facility in ZEPHYRHILLS, FL. They are currently seeking approval for the project. Construction will occur in two phases, with completion slated for late 2024 and 2028 respectively.
KENTUCKY: Snack food MFR. is planning to invest $137 million for the renovation and equipment upgrades on a 434,000 SF processing and distribution facility at 1391 Dixie Hwy. in LOUISVILLE, KY. They are currently seeking approval for the project. Completion is slated for Fall 2024.
NEW YORK: Produce company is planning to invest $95 million for the construction of a 1.3 million SF warehouse and greenhouse facility at 5222 Junction Rd. in LOCKPORT, NY. They are currently seeking approval for the project.
INDIANA: Restaurant chain is planning to invest $74 million for the construction of a processing and warehouse facility on Miami Trail in CHARLESTOWN, IN. They are currently seeking approval for the project. Completion is slated for 2025.
NEW JERSEY: Foodservice distributor is planning to invest $29 million for the expansion of their distribution center at 301 Heron Dr Swedesboro in SWEDESBORO, NJ by 141,000 SF. Construction is expected to start in late 2023, with completion slated for late 2024.
CALIFORNIA: Global retail chain is planning for the construction of a 900,000 SF distribution center in STOCKTON, CA. They are currently seeking approval for the project. Completion is slated for 2026.
PENNSYLVANIA: Snack food MFR. has recently agreed to pre-lease a 650,000 SF distribution center in HANOVER, PA. They will relocate a portion of their operations upon completion in early 2025.
TEXAS: Specialty food product MFR. is planning to invest $15 million for the construction of a 77,000 SF processing facility at 696 E. Owassa Rd. in SAN JUAN, TX. Construction is expected to start in late 2023, with completion slated for Summer 2025.
MISSISSIPPI: Beverage development company is planning to invest $10 million for the construction of a 50,000 SF processing, warehouse, and laboratory facility in COLUMBUS, MS. Construction is expected to start in early 2024, with completion slated for early 2025.
CALIFORNIA: Agricultural co-operative is planning for the expansion of their processing facility at 1300 N Washington Rd. in TURLOCK, CA by 100,000 SF. They have recently received approval for the project.
About Industrial SalesLeads, Inc.
Since 1959, Industrial 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 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.
