Summer slowdown hits in July 2024 with 138 new Industrial Manufacturing Planned Industrial Projects
SalesLeads has released the July 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 138 new projects, compared to 164 in June.
The following are selected highlights of the new Industrial Manufacturing industry construction news.
Industrial Manufacturing – By Project Type
- Manufacturing/Production Facilities – 121 New Projects
- Distribution and Industrial Warehouse – 73 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 54 New Projects
- Expansion – 36 New Projects
- Renovations/Equipment Upgrades – 54 New Projects
- Plant Closings – 12 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- Texas – 11
- Ohio – 9
- Indiana – 8
- Illinois – 7
- Michigan – 7
- Pennsylvania – 7
- California – 6
- Georgia – 6
- Massachusetts – 6
- Ontario – 6
Largest Planned Project
During the month of July, our research team identified 27 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.
The largest project is owned by Substrate, Inc., which plans to invest $108 billion in constructing a three million-square-foot manufacturing complex in BRYAN, TX. Substrate is currently seeking approval for the project.
Top 10 Tracked Industrial Manufacturing Projects
MISSOURI:
A federal agency plans to invest $3 billion to expand its nuclear weapon component manufacturing complex in KANSAS CITY, MO, by 2.5 million SF. Construction will occur in multiple phases, with the completion of the 1st phase slated for Summer 2026.
TEXAS:
A federal agency plans to invest $1.4 billion in constructing a semiconductor manufacturing and office campus at the University of Texas in AUSTIN, TX. They are currently seeking approval for the project, which will occur in two phases.
VIRGINIA:
Industrial wire and cable MFR. plans to invest $681 million in constructing a 750,000 SF manufacturing and warehouse facility at 1213 Victory Blvd. in CHESAPEAKE, VA. Construction is expected to start in early 2025 and complete in early 2028.
OKLAHOMA:
Solar panel component MFR. plans to invest $620 million in constructing a manufacturing facility at Tulsa International Airport in TULSA, OK. They are currently seeking approval for the project. Construction is expected to start in late 2024, with completion slated for 2026.
CALIFORNIA:
A steel fabrication company plans to invest $540 million to construct a 551,000-square-foot manufacturing and warehouse complex on Sopp Rd. in MOJAVE, CA. They are currently seeking approval for the project.
GEORGIA:
Tire Manufacturing Company is considering investing $500 million to construct a manufacturing facility and is seeking a site in Georgia. Watch SalesLeads for updates.
MICHIGAN:
Automotive MFR. plans to invest $500 million for the renovation and equipment upgrades on their manufacturing facility at 920 Townsend St. in LANSING, MI. They are currently seeking approval for the project.
KENTUCKY:
Automotive MFR. is planning to invest $400 million in constructing a manufacturing facility in SHELBYVILLE, KY, and is seeking approval for the project.
NORTH CAROLINA:
Medical device MFR. plans to invest $400 million in constructing a 550,000 SF manufacturing, warehouse, office, and training campus at 1911 Old Creek Road in GREENVILLE, NC. Construction is expected to start in Fall 2024 and be completed in late 2026.
ILLINOIS:
Automotive mfr. plans to invest $334 million in renovation and equipment upgrades at its manufacturing facility in BELVIDERE, IL. It is 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.
