Summer 2023 ends with an increase with 151 new Industrial Manufacturing Planned Projects for August 2023
SalesLeads has announced the August 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 151 new projects in August as compared to 140 in July, an increase 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 – 135 New Projects
- Distribution and Industrial Warehouse – 74 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 57 New Projects
- Expansion – 34 New Projects
- Renovations/Equipment Upgrades – 53 New Projects
- Plant Closings – 20 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- Michigan – 10
- New York – 10
- Indiana – 8
- North Carolina – 8
- Ohio – 8
- Arizona – 7
- Tennessee – 7
- Florida – 6
- Georgia – 6
- Texas – 6
Largest Planned Project
During the month of August, 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 Gotion, Inc., who is planning to invest $2 billion for the construction of an EV battery manufacturing facility in MANTENO, IL. They are currently seeking approval for the project.
Top 10 Tracked Industrial Manufacturing Projects
LOUISIANA:
Solar panel mfr. is planning to invest $1 billion for the construction of a manufacturing and warehouse facility at Acadiana Regional Airport in NEW IBERIA, LA. They have recently received approval for the project. Completion is slated for Spring 2026.
MANITOBA:
Biotechnology company is planning to invest $1 billion for the construction of a processing facility in MANITOBA. They are currently seeking approval for the project.
NEW MEXICO:
Solar panel MFR. is planning to invest $1 billion for the construction of a 2-million sf manufacturing, warehouse. and office complex in ALBUQUERQUE, NM. Construction is expected to start in early 2024.
FLORIDA:
Defense contractor is planning to invest $294 million for a 198,000 SF expansion and equipment upgrades on their manufacturing facility at 2400 Palm Bay Rd. NE in PALM BAY, FL. They are currently seeking approval for the project.
PENNSYLVANIA:
Biotechnology company is planning to invest $260 million for the construction of an 80,000 sf processing, laboratory, and office campus in PHILADELPHIA, PA. The project includes the construction of a 150,000 SF co-working biotechnology and office facility at the site. They are currently seeking approval for the project.
MISSISSIPPI:
Wood pellet MFR. is planning to invest $250 million for the construction of a manufacturing facility in BOND, MS. They have recently received approval for the project. Completion is slated for Fall 2025.
TENNESSEE:
Automotive component MFR. is planning to invest $170 million for the renovation and equipment upgrades on a manufacturing facility in LOUDON, TN. They are currently seeking approval for the project.
MICHIGAN:
Automotive parts mfr. is planning to invest $170 million for the renovation and equipment upgrades on a recently pre-leased 200,000 SF manufacturing facility in GRAND BLANC, MI. The project includes establishing a 50,000 SF testing and research facility and they are currently seeking a site in the FLINT, MI area.
MINNESOTA:
Medical device MFR. is planning to invest $170 million for the construction of a 400,000 sf laboratory, processing, training, and office campus on 73rd Place in MAPLE GROVE, MN. They are currently seeking approval for the project. The site will allow for a future 150,000 SF expansion.
KENTUCKY:
Automotive parts mfr. is planning to invest $131 million for a 320,000 sf expansion and equipment upgrades on their manufacturing facility in BARDSTOWN, KY. They have recently received approval for the project. Completion is slated for early Fall 2024.
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.
