Industrial Manufacturing Planned Projects held steady in Q3, October 2023 increases by 7%
Industrial SalesLeads has announced the October 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 161 new projects in October as compared to 150 in September.
The following are selected highlights on new Industrial Manufacturing industry construction news.
Industrial Manufacturing – By Project Type
- Manufacturing/Production Facilities – 137 New Projects
- Distribution and Industrial Warehouse – 84 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 56 New Projects
- Expansion – 54 New Projects
- Renovations/Equipment Upgrades – 56 New Projects
- Plant Closings – 14 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- Indiana – 17
- New York – 10
- North Carolina – 10
- Texas – 10
- Michigan – 9
- Ohio – 8
- Tennessee – 8
- Pennsylvania – 7
- Florida – 6
- Georgia – 6
Largest Planned Project
During the month of October, our research team identified 17 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.
The largest project is owned by Northvolt AB, who is planning to invest $5 billion for the construction of a manufacturing facility in MCMASTERVILLE, QC. They have recently received approval for the project. Completion is slated for late 2026.
Top 10 Tracked Industrial Manufacturing Projects
INDIANA:
Automotive MFR. is planning to invest $3.2 billion for the construction of an EV battery manufacturing facility in KOKOMO, IN. Completion is slated for early 2027.
MICHIGAN:
Battery MFR. is planning to invest an additional $3 billion for the expansion of their manufacturing facility in HOLLAND, MI. They are currently seeking approval for the project.
QUEBEC:
Specialty steel MFR. is planning to invest $1.7 billion for the construction of a manufacturing facility in SEPT-ILES, QC. They are currently seeking approval for the project. Construction is expected to start in 2026, with completion slated for 2029.
MASSACHUSETTS:
Consumer goods MFR. is planning to invest $1 billion for the expansion, renovation, and equipment upgrades at their manufacturing facility in ANDOVER, MA. They will relocate their manufacturing operations from BOSTON, MA upon completion. The project includes the renovation of their corporate campus in BOSTON, MA.
INDIANA:
Solar panel MFR. is planning to invest $800 million for the construction of a manufacturing facility in JEFFERSONVILLE, IN. Completion is slated for late 2025.
TEXAS:
Construction and agricultural equipment MFR. is planning to invest $265 million for the construction of a 720,000 sf manufacturing facility in SAN ANTONIO, TX. Construction is expected to start in early 2024.
MISSISSIPPI:
Truck MFR. is planning to invest $209 million for the expansion of their manufacturing facility in COLUMBUS, MS by 50,000 SF. They have recently received approval for the project. Construction is expected to start in late 2023.
PENNSYLVANIA:
Startup battery technology company is considering investing $160 million for the construction of a manufacturing facility and is currently seeking a site in the MERCER COUNTY, PA area. Watch Industrial SalesLeads for updates.
ARKANSAS:
Firearm and ammunition MFR. is planning to invest $150 million for a 250,000 SF expansion of their manufacturing facility in JACKSONVILLE, AR. They are currently seeking approval for the project.
IDAHO:
Semiconductor MFR. is planning to invest $114 million for the expansion of their manufacturing facility at 8000 S. Federal Way in BOISE, ID by 109,000 SF. They are currently seeking 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.
