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  • Posted On Tuesday, April 04, 2023 by Evan Lamolinara

    Foodmarch2023

    IMI SalesLeads announced today the March 2023 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 67 new projects in March as compared to 62 in February in the Food and Beverage sector.

    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 - 20 New Projects           

    Food and Beverage Project Scope/Activity

                New Construction - 29 New Projects

                Expansion - 15 New Projects

                Renovations/Equipment Upgrades - 24 New Projects

                Plant Closing - 5 New Projects

    Food and Beverage Project Location (Top 10 States)

                Tennessee - 4

                Ontario - 4

                California - 3

                Illinois - 3

                Michigan - 3

                New York - 3

                Virginia - 3

                Florida - 2

                Georgia - 2

                Idaho - 2                    

    Largest Planned Project

    During the month of March, our research team identified 5 new Food and Beverage facility construction projects with an estimated value of $100 million or more.

    The largest project is owned by McCain Foods, who is planning to invest $600 million for the expansion and equipment upgrades on their processing facility in COALDALE, AB. They have recently received approval for the project. Completion is slated for late 2023.

    Top 10 Tracked Food and Beverage Projects

    TENNESSEE:

    Beverage company is planning to invest $125 million for the construction of a 425,000 sf processing facility in ELKO NEW MARKET, MN. They are currently seeking approval for the project.

    INDIANA:

    Beverage distributor is planning to invest $73 million for the construction of a 450,000 sf distribution facility at 6900 English Ave. in INDIANAPOLIS, IN. They have recently received approval for the project. They will relocate operations upon completion in late 2024.

    ARKANSAS:

    Meat processing company is planning to invest $70 million for the construction of a 131,000 sf hatchery facility in HOPE, AR. Completion is slated for late 2024. They are also planning to close their processing facility in VAN BUREN, AR. They expect to cease all operations in May 2023.

    ILLINOIS:

    Dairy cooperative is planning to invest $50 million for the renovation and equipment upgrades on a processing facility at 757 N Morgan St. in DECATUR, IL. They are currently seeking approval for the project.

    IDAHO:

    Meat processing company is planning for the construction of a processing facility in IDAHO FALLS, ID. They are currently seeking approval for the project.

    PENNSYLVANIA:

    Global food products company is planning for the expansion of their processing facility at 201 W. Lincoln Ave. in LITITZ, PA by 207,000 sf. They are currently seeking approval for the project. Construction is expected to start in Summer 2023, with completion slated for Summer 2024.

    VIRGINIA:

    Food bank is planning for the construction of a 124,000 sf warehouse, processing, and office facility on Villa Park Dr. in HENRICO, VA. They are currently seeking approval for the project. Construction is expected to start in late 2023, with completion slated for late 2024.

    CALIFORNIA:

    Produce company is planning for the construction of a 97,000 sf processing facility at 6550 E. Hwy. 12 in LODI, CA. They are currently seeking approval for the project.

    MICHIGAN:

    Meat product mfr. is planning for the expansion of their processing facility at 3426 Quincy St. in HUDSONVILLE, MI by 88,000 sf. They are currently seeking approval for the project. 

    ILLINOIS:

    Specialty frozen food mfr. is planning for the renovation and equipment upgrades on a recently acquired 68,300 sf processing facility at 220 N Fairway Dr. in VERNON HILLS, IL. 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.

    Each month, our team provides hundreds of industrial reports within a variety of industries, including:

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