December 2024 levels off with 138 new Industrial Manufacturing identified projects
Industrial SalesLeads released its capital project spending report, providing analysis and insights into current and upcoming investments across the industrial manufacturing sector. After an unpredictable Q1 and Q2, the second half of 2024 brought about more stability in industrial projects. Industrial SalesLeads tracks North American planned industrial capital project activity, including facility expansions, new plant construction, and significant equipment modernization projects. To end the year, our research team confirms 138 new industrial projects.
Here are key insights from the industrial manufacturing projects and highlights of recent construction news in the Industrial Manufacturing sector.
Industrial Manufacturing – By Project Type
- Manufacturing/Production Facilities – 119 New Projects
- Distribution and Industrial Warehouse – 70 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 38 New Projects
- Expansion – 55 New Projects
- Renovations/Equipment Upgrades – 69 New Projects
- Plant Closings – 10 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- South Carolina – 12
- North Carolina – 10
- Florida – 9
- Illinois – 8
- Indiana – 8
- Michigan – 8
- Minnesota – 7
- New York – 7
- Texas – 7
- Tennessee – 6
Largest Planned Project
In December, our research team identified 18 new industrial manufacturing facility construction projects with an estimated $100 million or more value.
The largest project is owned by Ford Motor Company, which invested $5.6 billion to construct a 4 million sf EV automotive and battery manufacturing campus in STANTON, TN. Completion is slated for Fall 2027.
Top 10 Tracked Industrial Manufacturing Projects
WISCONSIN:
A pharmaceutical company plans to invest $3 billion to expand its processing facility in PLEASANT PRAIRIE, WI. They are currently seeking approval for the project. Construction is expected to start in 2025.
VIRGINIA:
A semiconductor MFR plans to invest $2.2 billion in expansion and equipment upgrades at its manufacturing facility in MANASSAS, VA. It is currently seeking approval for the project.
NORTH CAROLINA:
A biotechnology company plans to invest $1 billion to expand its processing facility in HOLLY SPRINGS, NC. They are currently seeking approval for the project.
SOUTH CAROLINA:
An aerospace company plans to invest $1 billion in expansion and equipment upgrades for its manufacturing facilities in NORTH CHARLESTON, SC, and LADSON, SC. The project includes the construction of a maintenance and testing facility at the site. Completion is slated for 2027.
TENNESSEE:
A battery component, MFR., is considering investing $1 billion to construct a manufacturing facility and is currently seeking a site in the area of CHATTANOOGA, TN. Watch SalesLeads for updates.
KENTUCKY:
An automotive MFR plans to invest $922 million in a 1 million sf expansion and equipment upgrades at its manufacturing and warehouse facility in GEORGETOWN, KY. Completion is slated for 2027.
TEXAS:
An aerospace company plans to invest $429 million in renovating and upgrading equipment in a 447,000-square-foot manufacturing and warehouse facility at 15100 N. Beach Street in Fort Worth, TX. They have recently received approval for the project.
MICHIGAN:
A truck component, MFR., plans to invest $285 million in expansion and equipment upgrades at its REDFORD TOWNSHIP, MI, manufacturing facility. The company is currently seeking approval for the project, and construction is expected to start in early 2025.
NORTH CAROLINA:
A specialty wire products MFR. is considering investing $194 million to construct a manufacturing facility and is seeking a site in CHATHAM COUNTY, NC. Watch SalesLeads for updates.
SOUTH CAROLINA:
An automotive component, MFR., plans to invest $194 million to expand its manufacturing facility in PIEDMONT, SC. They have recently received 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.
