August 2024 bounces back with a 22% increase in new planned Capital Projects from the previous month
Industrial SalesLeads released the August 2024 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 168 new projects, compared to 138 projects the previous month.
The following are selected highlights of the new Industrial Manufacturing industry construction news.
Industrial Manufacturing – By Project Type
- Manufacturing/Production Facilities – 153 New Projects
- Distribution and Industrial Warehouse – 99 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 43 New Projects
- Expansion – 56 New Projects
- Renovations/Equipment Upgrades – 68 New Projects
- Plant Closings – 18 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- New York – 15
- Indiana – 14
- Ohio – 13
- Michigan – 12
- Ontario – 11
- Wisconsin – 11
- North Carolina – 10
- Pennsylvania – 6
- Tennessee – 6
- Arizona – 5
Largest Planned Project
During August, our research team identified 11 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.
The largest project is owned by Natron Energy, which plans to invest $1.4 billion to construct a 1.2 million sf manufacturing facility in ROCKY MOUNT, NC. They are currently seeking approval for the project.
Top 10 Tracked Industrial Manufacturing Projects
QUEBEC:
An aerospace company plans to invest $1.2 billion in the expansion of its manufacturing facility in MIRABEL, QC. They recently received approval for the project.
NEW MEXICO:
Solar Cell Manufacturing Company plans to invest $942 million in constructing an 834,000-square-foot manufacturing facility in Albuquerque, NM. They are currently seeking approval for the project, which is expected to start in late 2024.
INDIANA:
A steel company plans to invest $300 million in renovations and equipment upgrades at its manufacturing facility in Gary, IN. It is currently seeking approval for the project.
MINNESOTA:
A tissue paper manufacturer plans to invest $250 million in a 500,000 SF expansion, renovation, and equipment upgrades at a recently acquired manufacturing and warehouse facility in DULUTH, MN. They are currently seeking approval for the project.
WEST VIRGINIA:
A steel Mfr. plans to invest $150 million in constructing a manufacturing facility in WEIRTON, WV. They are seeking approval for the project, slated for completion in 2026.
NORTH CAROLINA:
A veterinary medical device manufacturer is planning to invest $147 million in the construction of a manufacturing facility in Wilson, NC, and is currently seeking approval for the project.
KENTUCKY:
Electric component MFR. is planning to invest $144 million to repurpose its manufacturing facility in MAYSVILLE, KY, and is seeking approval for the project.
KANSAS:
A pharmaceutical company plans to invest $130 million in the renovation, expansion, and equipment upgrades of its processing facility in ELWOOD, KS. It is currently seeking approval for the project.
OHIO:
A steel company plans to invest $100 million in expanding its manufacturing facility in Cantons, Ohio. It is currently seeking approval for the project.
FLORIDA:
A building materials manufacturing company plans to invest $78 million in constructing a 480,000-square-foot manufacturing and warehouse facility in ZEPHYRHILLS, FL. Construction is expected to start in late 2024. The company will consolidate its regional operations upon completion, which is slated for late 2025.
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.
