Q1 2024 Ends on a strong note with March producing 174 new Industrial Manufacturing planned projects
Industrial SalesLeads just released the March 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 174 new projects in the Industrial Manufacturing sector as compared to 150 in February 2024.
The following are selected highlights on new Industrial Manufacturing industry construction news.
Industrial Manufacturing – By Project Type
- Manufacturing/Production Facilities – 154 New Projects
- Distribution and Industrial Warehouse – 71 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 60 New Projects
- Expansion – 46 New Projects
- Renovations/Equipment Upgrades – 74 New Projects
- Plant Closings – 16 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- Texas – 18
- Indiana – 16
- Michigan – 14
- North Carolina – 12
- California – 10
- Ohio – 9
- Arizona – 7
- Illinois – 6
- Ontario – 6
- South Carolina – 5
Largest Planned Project
During the month of March, our research team identified 25 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.
The largest project is owned by Intel Corporation, who is investing $28 billion for the construction of a manufacturing and office campus in NEW ALBANY, OH. Completion is slated for late 2026.
Top 10 Tracked Industrial Manufacturing Projects
SOUTH CAROLINA:
EV battery MFR. is planning to invest $1.5 billion for the expansion of its manufacturing facility in FLORENCE, SC. They have recently received approval for the project. Completion is slated for 2027.
MICHIGAN:
Specialty glass and ceramic product mfr. is planning to invest $900 million in the construction of a solar component manufacturing facility in RICHLAND TOWNSHIP, MI. They are currently seeking approval for the project. Completion is slated for 2028.
WASHINGTON:
Steel company is considering investing $860 million for the construction of a manufacturing facility and currently seeking a site in WA. Watch SalesLeads for updates.
INDIANA:
Construction equipment MFR. is planning to invest $725 million for a 300,000 SF expansion and equipment upgrades on their manufacturing facility in LAFAYETTE, IN. They have recently received approval for the project. Completion is slated for late 2027.
CALIFORNIA:
A pharmaceutical company is planning to invest $562 million for the renovation and equipment upgrades on a 427,000 SF processing, laboratory, warehouse, and office facility at 1000 New Horizons Way in VACAVILLE, CA. They are currently seeking approval for the project.
OHIO:
Graphite product MFR. is planning to invest $435 million in the construction of a manufacturing facility in NILES, OH. They are currently seeking approval for the project.
CALIFORNIA:
Startup battery MFR. is considering investing $400 million for the construction of a manufacturing facility and currently seeking a site in NORTHERN CALIFORNIA. Watch SalesLeads for updates.
NORTH CAROLINA:
Pharmaceutical packaging and containment solutions provider is planning to invest $371 million for the construction of a manufacturing facility in WILSON, NC. They are currently seeking approval for the project. Construction is expected to start in late 2024, with completion slated for 2027.
KANSAS:
Roofing products MFR. is planning to invest $300 million for the construction of a 275,000 SF manufacturing facility in NEWTON, KS. They are currently seeking approval for the project. Construction is expected to start in Summer 2024, with completion slated for 2027.
TEXAS:
An aerospace company is planning to invest $272 million for the renovation and equipment upgrades on a 447,000 SF manufacturing facility at 15100 N. Beach St. in FORT WORTH, TX. 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, 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.
