SalesLeads has announced the January 2024 results for the new planned capital project spending report for the Food and Beverage industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 66 new projects in the Food and Beverage sector as compared to 67 in December 2023.
The following are selected highlights on new Food and Beverage industry construction news.
Food and Beverage Project Type
- Processing Facilities – 47 New Projects
- Distribution and Industrial Warehouse – 24 New Projects
Food and Beverage Project Scope/Activity
- New Construction – 24 New Projects
- Expansion – 16 New Projects
- Renovations/Equipment Upgrades – 29 New Projects
- Plant Closing – 4 New Projects
Food and Beverage Project Location (Top 10 States)
- Florida – 9
- California – 6
- New York – 6
- Michigan – 4
- Ohio – 4
- Pennsylvania – 4
- Indiana – 3
- Virginia – 3
- Wisconsin – 3
- Georgia – 2
Largest Planned Project
During January, our research team identified 3 new Food and Beverage facility construction projects with an estimated value of $100 million or more.
The largest project is owned by Natures Bakery, which is planning to invest $237 million for the construction of a 339,000 SF processing facility in SALT LAKE CITY, UT. They have recently received approval for the project. Completion is slated for Summer 2025.
Top 10 Tracked Food and Beverage Projects
ONTARIO: Sugar producer is planning to invest $135 million for the construction of a processing facility in HAMILTON, ON. They are currently seeking approval for the project. Completion is slated for 2025.
CALIFORNIA: Global retail chain is planning for the construction of a 1.8 million SF distribution and warehouse complex in TRACY, CA. They are currently seeking approval for the project.
NEBRASKA: Meat processing company is planning to invest $43 million for the expansion of their processing facility in HASTINGS, NE by 11,000 SF. They are currently seeking approval for the project.
ARKANSAS: Bakery company is planning to invest $37 million for the expansion and equipment upgrades on their processing facility at 2700 E. 3rd Street in HOPE, AR. They have recently received approval for the project.
WISCONSIN: Candy MFR. is planning for the renovation and equipment upgrades on a recently leased 447,000 sf distribution center at 9403 136th Ave. in BRISTOL, WI. They will relocate a portion of their regional distribution operations upon completion in Summer 2024.
ILLINOIS: Distillery is planning for the renovation and equipment upgrades on a 157,000 SF production and warehouse facility at 2400 SW Washington St. in PEORIA, IL. They are currently seeking approval for the project.
GEORGIA: Herbal supplement MFR. is planning for the renovation and equipment upgrades on an 85,000 SF of warehouse space at 2323 Brown Rd. in BUFORD, GA. They are currently seeking approval for the project.
MICHIGAN: Pickle products MFR. is planning to invest $10 million for the expansion of their processing and warehouse facility in LEXINGTON, MI. They are currently seeking approval for the project.
NORTH CAROLINA: Distillery is planning to invest $10 million for the construction of a 28,000 SF production facility at 178 Old Airport Rd. in STATESVILLE, NC. They are currently seeking approval for the project.
FLORIDA: Snack food MFR. is planning for the construction of a 104,000 SF distribution center at 9111 Cheetos Cir. in FORT MYERS, FL. 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 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.
