SalesLeads announced today the July 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 140 new projects in July as compared to 141 in June, unchanged for the Industrial Sector.
The following are selected highlights on new Industrial Manufacturing industry construction news.
Industrial Manufacturing – By Project Type
- Manufacturing/Production Facilities – 129 New Projects
- Distribution and Industrial Warehouse – 82 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 44 New Projects
- Expansion – 48 New Projects
- Renovations/Equipment Upgrades – 57 New Projects
- Plant Closings – 13 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- California – 10
- New York – 9
- Texas – 9
- Indiana – 8
- Ohio – 8
- Michigan – 7
- Georgia – 6
- Minnesota – 6
- Tennessee – 6
- South Carolina – 5
Largest Planned Project
During the month of July, our research team identified 16 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.
The largest project is owned by Formosa Plastics Corporation, who is planning to invest $12 billion for the construction of a processing facility in ST. JAMES, LA. They are currently seeking approval for the project. Construction is expected to start in Summer 2024.
Top 10 Tracked Industrial Manufacturing Projects
CALIFORNIA:
Semiconductor MFR. is planning to invest $2 billion for the expansion, renovation, and equipment upgrades on their manufacturing facility at 7501 Foothills Blvd. in ROSEVILLE, CA. They are currently seeking approval for the project. Completion is slated for 2026.
TENNESSEE:
Automotive component mfr. is planning to invest $790 million for the construction of two manufacturing and warehouse facilities totaling 940,000 SF in STANTON, TN. The project includes the construction of a 400,000 SF manufacturing facility in LAWRENCEBURG, TN. Completion is slated for 2025.
TEXAS:
Tissue paper MFR. is planning to invest $400 million for the construction of a manufacturing and warehouse facility on Gene Campbell Rd. in NEW CANEY, TX. They are currently seeking approval for the project. They will relocate their operations upon completion.
INDIANA:
Plumbing equipment MFR. is expanding and planning to invest $300 million for the construction of a 300,000 sf manufacturing facility adjacent to their existing plant in WABASH, IN. Construction is expected to start in early Fall 2023.
ARIZONA:
Semiconductor equipment MFR. is planning to invest $270 million for the construction of a laboratory and manufacturing facility on the Arizona State University campus in TEMPE, AZ. They are currently seeking approval for the project.
FLORIDA:
Building materials MFR. is planning to invest $235 million for the expansion and equipment upgrades on their manufacturing facility in PALATKA, FL. They are currently seeking approval for the project.
GEORGIA:
Automobile MFR. is planning to invest $200 million for the renovation and equipment upgrades on their manufacturing facility in WEST POINT, GA. Completion is slated for Spring 2024.
OHIO:
Tissue paper MFR. is planning to invest $185 million for a 500,000 SF expansion of their manufacturing facility in CIRCLEVILLE, OH. They are currently seeking approval for the project. Completion is slated for 2025.
SOUTH DAKOTA:
Industrial supplies MFR. is planning to invest $158 million for a 200,000 sf expansion of their manufacturing and warehouse facility in BROOKINGS, SD. They are currently seeking approval for the project.
KENTUCKY:
Automotive components MFR. is planning to invest $153 million for a 752,000 SF expansion and equipment upgrades on their manufacturing facility in BEREA, KY. They are currently seeking approval for the project.
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.
