Industrial SalesLeads has announced the December 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 136 new projects a drop from 161 in both October and November 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 – 119 New Projects
- Distribution and Industrial Warehouse – 80 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 42 New Projects
- Expansion – 38 New Projects
- Renovations/Equipment Upgrades – 63 New Projects
- Plant Closings – 11 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- Michigan – 13
- Indiana – 9
- California – 8
- New York – 8
- North Carolina – 6
- Ohio – 6
- South Carolina – 6
- Texas – 6
- Ontario – 5
- Tennessee – 5
Largest Planned Project
During the month of December, our research team identified 12 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.
The largest project is owned by Powerco Canada Inc., who is planning to invest $5 billion for the construction of a manufacturing facility in ST. THOMAS, ON. They have recently received approval for the project. Completion is slated for 2027.
Top 10 Tracked Industrial Manufacturing Projects
ARIZONA:
Semiconductor MFR. is planning to invest $2 billion for the construction of a 500,000 sf manufacturing facility in PEORIA, AZ. They are currently seeking approval for the project.
TEXAS:
Solar panel MFR. is planning to invest $1 billion for the construction of a manufacturing facility in BROOKSHIRE, TX. They are currently seeking approval for the project. Completion is slated for late 2024.
SOUTH CAROLINA:
EV battery MFR. is planning to invest an additional $810 million for the expansion of their currently under-construction manufacturing facility in FLORENCE, SC. Completion is slated for 2026.
ONTARIO:
Tire MFR. is planning to invest $550 million for the expansion of their manufacturing facility at 388 Goodyear Rd. in NAPANEE, ON by 420,000 SF. They are currently seeking approval for the project.
SOUTH CAROLINA:
Magnetic product MFR. is planning to invest $500 million for the construction of a manufacturing facility in SUMTER, SC. They have recently received approval for the project. Completion is slated for Fall 2025.
CALIFORNIA:
Mobility technology innovation center is planning to invest $300 million for the construction of a 200,000 SF laboratory and manufacturing facility on Ramona Ave. in SACRAMENTO, CA. They are currently seeking approval for the project. They will relocate their operations upon completion.
ARIZONA:
Semiconductor equipment MFR. is planning to invest $300 million for the construction of a 250,000 sf manufacturing, warehouse, laboratory, and office facility in SCOTTSDALE, AZ. They will relocate their operations upon completion in 2026.
OHIO:
Biotechnology company is planning to invest $229 million for the expansion, renovations, and equipment upgrades on their processing facility in HAMILTON, OH. They are currently seeking approval for the project.
ONTARIO:
Medical supplies MFR. is planning to invest $165 million for the construction of a 140,000 SF manufacturing facility on Bonder Road in LONDON, ON. They are currently seeking approval for the project. Completion is slated for 2026.
OREGON:
Paper product MFR. is planning to invest $150 million for the renovation and equipment upgrades on their manufacturing facility in HALSEY, OR. Completion is slated for 2025.
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 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.
