Strong start to Q3 with 136 new Industrial Manufacturing Planned Industrial Projects
Industrial SalesLeads released its October 2024 report on planned capital project spending in the Industrial Manufacturing sector. The firm monitors planned industrial capital projects across North America, including facility expansions, new plant construction, and major equipment modernization initiatives. The latest research identified 136 new projects, an increase from 128 in September.
The following are selected highlights of the new Industrial Manufacturing industry construction news.
Industrial Manufacturing – By Project Type
- Manufacturing/Production Facilities – 118 New Projects
- Distribution and Industrial Warehouse – 85 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 47 New Projects
- Expansion – 42 New Projects
- Renovations/Equipment Upgrades – 56 New Projects
- Plant Closings – 12 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- Pennsylvania – 10
- Indiana – 9
- North Carolina – 7
- Ohio – 7
- Ontario – 7
- Tennessee – 7
- Texas – 7
- Illinois – 6
- Washington – 6
- Arizona – 5
Largest Planned Project
In October, our research team identified 19 new industrial manufacturing facility construction projects with an estimated $100 million or more value.
The largest project is owned by Eli Lilly and Company, which plans to invest $4.5 billion in the construction of a processing, laboratory, and research campus in Lebanon, IN. The company is currently seeking approval for the project.
Top 10 Tracked Industrial Manufacturing Projects
NORTH CAROLINA:
A pharmaceutical company plans to invest $2 billion in constructing a processing campus in Wilson, NC. Construction is expected to start in Spring 2025.
NEVADA:
Battery MFR. is planning to invest $1 billion in constructing a 1.2 million sf manufacturing facility in RENO, NV. They are seeking approval for the project, which is expected to start in 2025.
PENNSYLVANIA:
A pharmaceutical company plans to invest $800 million in constructing two processing facilities on its campus in MARIETTA, PA. It is currently seeking approval for the project. Construction is expected to start in late 2024 and be completed in late 2028.
MICHIGAN:
Semiconductor MFR. plans to invest $325 million in constructing a manufacturing facility on its campus in HEMLOCK, MI. It is currently seeking approval for the project.
VIRGINIA:
A pharmaceutical company plans to invest $200 million in expanding its processing facility at 2020 Avon Ct. in Charlottesville, VA. The project has recently been approved.
PENNSYLVANIA:
Generator MFR. plans to invest $175 million in constructing a 300,000 SF manufacturing facility in FINDLAY TWP., PA. They are seeking approval for the project, which is expected to start in 2025.
NORTH CAROLINA:
Consumer goods MFR. plans to invest $146 million in a processing facility’s renovation and equipment upgrades at 4700 Sandoz Dr. in Wilson, NC. They are currently seeking approval for the project.
TEXAS:
A plastic recycling company plans to invest $145 million in constructing a processing and warehouse facility in HOOKS, TX. It is seeking approval for the project, which will start in Summer 2025.
OREGON:
Wood product MFR. plans to invest $120 million in its manufacturing facility’s renovation and equipment upgrades in SPRINGFIELD, OR. The project includes the construction of two manufacturing facilities at the site. Completion is slated for early 2026 and late 2026, respectively.
ALABAMA:
Automotive component MFR. plans to invest $100 million in the renovation and equipment upgrades of a manufacturing facility in Auburn, AL. They recently received approval for the project.
About the Author:
Since 1959, Industrial SalesLeads, based in Jacksonville, FL, has been 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.
