May 2024 makes a comeback with 147 new Industrial Manufacturing Projects
Industrial SalesLeads has announced the May 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 147 new projects compared to 110 in April and 174 in March.
The following are selected highlights on new Industrial Manufacturing industry construction news.
Industrial Manufacturing – By Project Type
- Manufacturing/Production Facilities – 129 new projects
- Distribution and Industrial Warehouse – 73 new projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 42 new projects
- Expansion – 52 new projects
- Renovations/Equipment Upgrades – 66 new projects
- Plant Closings – 14 new projects
Industrial Manufacturing – By Project Location (Top 10 States)
- Indiana – 10
- Ohio – 10
- Texas – 9
- Michigan – 8
- New York – 8
- California – 7
- Pennsylvania – 7
- South Carolina – 7
- North Carolina – 6
- Quebec – 5
Largest Planned Project
During May, our research team identified 22 new Industrial Manufacturing facility construction projects with an estimated $100 million or more value.
The largest project is owned by Honda Canada Inc., planning to invest $15 billion to construct an EV battery manufacturing complex in ALLISTON, ON. They are currently seeking approval for the project. Completion is slated for 2028.
Top 10 Tracked Industrial Manufacturing Projects
ILLINOIS:
EV MFR. plans to invest $1.5 billion in their manufacturing facility’s expansion and equipment upgrades in NORMAL, IL. They are currently seeking approval for the project.
INDIANA:
Automotive MFR. plans to invest $1.4 billion in its manufacturing facility’s expansion, renovation, and equipment upgrades in PRINCETON, IN. Construction is expected to start in Fall 2024, with completion slated for late 2026.
QUEBEC:
A global technology company plans to invest $730 million in the expansion and equipment upgrades on their manufacturing facility in BROMONT, QC. They are currently seeking approval for the project.
TEXAS:
Automotive MFR. plans to invest $531 million to expand its 1 Lone Star Pass manufacturing facility in SAN ANTONIO, TX by 500,000 SF. They are currently seeking approval for the project.
MINNESOTA:
Semiconductor MFR. plans to invest $525 million for their manufacturing facility’s expansion and equipment upgrades in BLOOMINGTON, MN. They are currently seeking approval for the project.
GEORGIA:
Hygiene products MFR. plans to invest $418 million for the expansion and equipment upgrades on their manufacturing, warehouse, and office facility in MACON, GA. They are currently seeking approval for the project.
KANSAS:
Automotive MFR. plans to invest $390 million for the renovation and equipment upgrades on their manufacturing facility at 3201 Fairfax Trafficway in KANSAS CITY, KS. They are currently seeking approval for the project.
NORTH CAROLINA:
Solar panel MFR. plans to invest $300 million for the construction of a 1-million SF manufacturing facility in GREENVILLE, NC. They have recently received approval for the project.
NEVADA:
Recycled paper product MFR. plans to invest $272 million in the construction of a recycling facility in WINNEMUCCA, NV. They have recently received approval for the project.
WASHINGTON:
The aerospace company is planning to invest $200 million for a 70,000 SF expansion and equipment upgrades on their manufacturing facility in SPOKANE, WA. They are currently seeking approval for the project.
About IMI SalesLeads, Inc.
Since 1959, IMI SalesLeads, based in Jacksonville, FL is a provider 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.
