Industrial SalesLeads released its November 2024 report on planned capital project spending in the Industrial Manufacturing industry, highlighting a significant uptick in activity. The firm, which monitors North American industrial capital project plans, including facility expansions, new plant construction, and major equipment modernizations, identified 151 new projects for the month. This marks an increase from the 136 projects reported in October, indicating a steady growth trajectory in the sector’s development and investment activity.
Here are key highlights of the latest construction developments in the Industrial Manufacturing industry.
Industrial Manufacturing – By Project Type
- Manufacturing/Production Facilities – 124 New Projects
- Distribution and Industrial Warehouse – 62 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 45 New Projects
- Expansion – 42 New Projects
- Renovations/Equipment Upgrades – 74 New Projects
- Plant Closings – 16 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- Ohio – 11
- New York – 10
- California – 9
- North Carolina – 9
- Texas – 9
- Indiana – 8
- South Carolina – 8
- Virginia – 8
- Tennessee – 7
- Illinois – 6
Largest Planned Project
In November, our research team identified 17 new Industrial Manufacturing facility construction projects, each valued at $100 million or more.
Citroniq Chemicals owns the largest project, which plans to invest $7.5 billion in the construction of a processing facility in FALLS CITY, NE. The company is currently seeking approval for the project, which is slated for completion in 2029.
Top 10 Tracked Industrial Manufacturing Projects
MICHIGAN:
A steel producer plans to invest $470 million in renovation and equipment upgrades at its manufacturing facility in DEARBORN, MI. The company is currently seeking approval for the project. It is also considering investing $2 billion to repurpose the same plant.
KENTUCKY:
A battery storage manufacturing company plans to invest $712 million in the renovation and equipment upgrades of a one-million-square-foot manufacturing facility at 139 Logistics Dr. in SHELBYVILLE, KY. The company recently received approval for the project, which is slated for completion in late 2025.
GEORGIA:
A paper towel and tissue manufacturer plans to invest $600 million in the expansion and equipment upgrades of its manufacturing facility in MACON, GA. It is currently seeking approval for the project.
OHIO:
A recycled paper products manufacturer plans to invest $600 million in constructing a manufacturing and warehouse facility on Olive Rd. in DAYTON, OH. They are currently seeking approval for the project.
ARKANSAS:
A wood products manufacturing company plans to invest $500 million in constructing a manufacturing facility in MONTICELLO, AR. They are currently seeking approval for the project. Construction is expected to start in 2025, with completion slated for 2027.
CALIFORNIA:
A cement manufacturer plans to invest $500 million in its processing facility’s expansion, renovation, and equipment upgrades in LEBEC, CA. It is currently seeking approval for the project.
MICHIGAN:
A steel producer plans to invest $470 million in its manufacturing facility’s renovation and equipment upgrades in DEARBORN, MI. It is currently seeking approval for the project. The company is also considering investing $2 billion to repurpose the same plant.
NEW YORK:
A specialty glass manufacturer plans to invest $347 million in expanding its manufacturing facility at 334 Co Rd 16 in Canton, NY. It is currently seeking approval for the project.
NORTH CAROLINA:
A semiconductor component manufacturer plans to invest $305 million to expand its manufacturing facility in GREENSBORO, NC. The company is currently seeking approval for the project.
TENNESSEE:
An HVAC equipment manufacturer plans to invest $238 million to renovate and upgrade a 787,000 SF manufacturing facility at 5106 Tradeport Dr. in MEMPHIS, TN. They are 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.
