Industrial SalesLeads announced the June 2024 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 164 new projects compared to 147 in May and 110 in April.
The following are selected highlights of the new Industrial Manufacturing industry construction news.
Industrial Manufacturing – By Project Type
- Manufacturing/Production Facilities – 148 New Projects
- Distribution and Industrial Warehouse – 98 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 45 New Projects
- Expansion – 58 New Projects
- Renovations/Equipment Upgrades – 67 New Projects
- Plant Closings – 17 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- Indiana – 13
- Ohio – 11
- Tennessee – 10
- North Carolina – 9
- Ontario – 8
- Florida – 7
- California – 6
- Georgia – 6
- Illinois – 6
- Texas – 5
Largest Planned Project
In June, our research team identified 11 new industrial manufacturing facility construction projects with an estimated $100 million or more value.
The largest project is owned by Eli Lilly & Company, which plans to invest $5 billion to expand its processing facility in LEBANON, IN. They are currently seeking approval for the project. Completion is slated for 2028.
Top 10 Tracked Industrial Manufacturing Projects
MISSISSIPPI:
EV battery MFR. is planning to invest $2 billion in constructing a manufacturing facility in MARSHALL COUNTY, MS. They have recently received approval for the project. Completion is slated for 2027.
NORTH CAROLINA:
A pharmaceutical company is planning to invest $1.5 billion in expanding its processing facility in CLAYTON, NC, and is currently seeking approval for the project.
ALABAMA:
Automotive MFR. plans to invest $282 million to expand its manufacturing facility in Huntsville, AL, and is seeking approval for the project.
QUEBEC:
Trailer MFR. plans to invest $170 million in its manufacturing facility’s expansion, renovation, and equipment upgrades in SAINT-GEORGES, QC. The company is currently seeking approval for the project.
FLORIDA:
Aircraft Manufacturing Company plans to invest $135 million in constructing a laboratory, manufacturing, and testing facility in Jacksonville, FL. They are currently seeking approval for the project.
TEXAS:
A steel company is planning to invest $110 million in renovations and equipment upgrades at its manufacturing facility in BAYTOWN, TX, and is seeking approval for the project.
NEW YORK:
A pharmaceutical company plans to invest $106 million in a 43,000 SF expansion, renovations, and equipment upgrades at its processing and warehouse facility in Rochester, NY. It is currently seeking approval for the project.
KENTUCKY:
An aluminum product manufacturer plans to invest $85 million to expand its manufacturing facility in HENDERSON, KY, by 80,000 SF. They recently received approval for the project, slated for completion in 2026.
WISCONSIN:
A biotechnology company plans to invest $75 million in a 50,000 SF expansion and equipment upgrades at its processing facility in MILWAUKEE, WI. The company is currently seeking approval for the project. Construction is expected to start in Summer 2024 and be completed in Summer 2026.
MISSISSIPPI:
A defense technology company plans to invest $75 million to expand its manufacturing facility in MCHENRY, MS. 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.
