New planned Industrial Projects spikes up 82% in March 2023 from previous month
IMI SalesLeads announced the March 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 IMI SalesLeads 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 – 171 New Projects
- Distribution and Industrial Warehouse – 77 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 61 New Projects
- Expansion – 56 New Projects
- Renovations/Equipment Upgrades – 76 New Projects
- Plant Closings – 18 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- North Carolina – 15
- Indiana – 14
- Ohio – 14
- South Carolina – 11
- Michigan – 10
- Tennessee – 9
- Texas – 9
- Ontario – 8
- Alabama – 7
- California – 7
Largest Planned Project
During the month of March, our research team identified 20 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.
The largest project is owned by LG Energy Solution, which is planning to invest $5.5 billion in the construction of a manufacturing facility in QUEEN CREEK, AZ. They are currently seeking approval for the project. Completion is slated for 2025.
Top 10 Tracked Industrial Manufacturing Projects
ONTARIO:
Automotive mfr. is planning to invest $5 billion in the construction of a manufacturing facility in ST. THOMAS, ON. They are currently seeking approval for the project.
MICHIGAN:
Automotive mfr. is considering investing $4 billion in the construction of an EV battery manufacturing facility and currently seeking a site in MICHIGAN.
INDIANA:
A pharmaceutical company is planning to invest $2.1 billion in the construction of a processing and research complex in LEBANON, IN. They are currently seeking approval for the project.
SOUTH CAROLINA:
Automotive mfr. is planning to invest $2 billion in the construction of a manufacturing facility in BLYTHEWOOD, SC. They are currently seeking approval for the project. Construction is expected to start in the Summer of 2023.
INDIANA:
Battery component mfr. is planning to invest $1.5 billion for the construction of a 1.4 million SF manufacturing facility in TERRE HAUTE, IN. They are currently seeking approval for the project. Completion is slated for late 2027.
NOVA SCOTIA:
Tire mfr. is planning to invest $303 million for the expansion of its manufacturing facility in BRIDGEWATER, NS. They are currently seeking approval for the project.
ALABAMA:
Ammunition mfr. is planning to invest $250 million in the construction of a manufacturing facility in VALLEY, AL. They have recently received approval for the project.
NORTH CAROLINA:
Railroad car mfr. is planning to invest $220 million for the construction of a manufacturing facility in LEXINGTON, NC. They have recently received approval for the project. Completion is slated for early 2024.
OHIO:
An energy company is planning to invest $220 million for the renovation and equipment upgrades on a 1.1 million SF solar panel manufacturing facility at 3600 Etna Pkwy in PATASKALA, OH. They have recently received approval for the project. Completion is slated for late 2023.
TENNESSEE:
Automobile parts mfr. is planning to invest $147 million for a 55,000 SF expansion and equipment upgrades on their manufacturing facility in MORRISTOWN, TN. 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.
