A 30% Decrease in Planned Industrial Construction Projects for July 2024 After a Steady Climb

Research by Industrial SalesLeads’ experienced industrial market research team, shows 381 new planned industrial projects tracked during the month of July. Planned industrial project activity decreased 30% from the previous month.

The following are selected highlights on new industrial construction news and project opportunities throughout North America.

Planned Industrial Construction - By Project Type:

          Manufacturing Facilities - 130 New Projects

          Processing Facilities - 88 New Projects

          Distribution and Industrial Warehouse - 177 New Projects

          Power/Energy/Oil and Gas - 4 New Projects

          Laboratory Facilities - 14 New Projects

          Mine - 0 New Projects

          Terminal - 1 New Project

          Pipeline - 0 New Projects

Planned Industrial Construction - By Scope/Activity

          New Construction - 178 New Projects

          Expansion - 75 New Projects

          Renovations/Equipment Upgrades - 134 New Projects

          Plant Closing - 21 New Projects

Planned Industrial Construction - By Location (Top 10 States)

          Texas - 29

          Indiana - 21

          California - 20

          Florida - 19

          New York - 18

          Ohio - 17

          Pennsylvania - 16

         Georgia - 15

         Illinois - 14

         Michigan - 14

Largest Planned Industrial Construction Project

During the month of July, our research team identified 42 new General Industrial facility construction projects with an estimated value of $100 million or more. 

The largest project is owned by Substrate, Inc., who is planning to invest $108 billion for the construction of a 3 million sf manufacturing complex in BRYAN, TX. They are currently seeking approval for the project.

Top 10 Tracked Industrial Construction Projects

MISSOURI:

Federal agency is planning to invest $3 billion for the expansion of their nuclear weapon component manufacturing complex in KANSAS CITY, MO by 2.5 million sf. Construction will occur in multiple phases, with completion of the 1st phase slated for Summer 2026.

TENNESSEE:

Federal agency is planning to invest $2.5 billion for the expansion of their laboratory and research campus in OAK RIDGE, TN. They are currently seeking approval for the project.

GEORGIA:

Electric utility company is planning to invest $2 billion for the construction of a 1,200 MW natural gas-fired power plant in FORSYTH, GA. They are also planning to invest $360 million for the construction of a 240 MW natural gas-fired power plant in BOX SPRINGS, GA. They are currently seeking approval for the projects.

TEXAS:

Federal agency is planning to invest $1.4 billion for the construction of a semiconductor manufacturing and office campus at the University of Texas in AUSTIN, TX. They are currently seeking approval for the project. Construction will occur in two phases.

KENTUCKY:

Uranium mining company is planning to invest $1 billion for the construction of a processing facility in WEST PADUCAH, KY. They are currently seeking approval for the project.

ALBERTA:

Energy company is planning to invest $730 million for the construction of a natural gas liquid processing facility in ALBERTA, AB. They are currently seeking approval for the project. Completion is slated for 2027.

VIRGINIA:

Industrial wire and cable mfr. is planning to invest $681 million for the construction of a 750,000 sf manufacturing and warehouse facility at 1213 Victory Blvd. in CHESAPEAKE, VA. Construction is expected to start in early 2025, with completion slated for early 2028.

OKLAHOMA:

Solar panel component mfr. is planning to invest $620 million for the construction of a manufacturing facility at Tulsa International Airport in TULSA, OK. They are currently seeking approval for the project. Construction is expected to start in late 2024, with completion slated for 2026.

COLORADO:

Tobacco company is planning to invest $600 million for the construction of a processing facility in AURORA, CO. They are currently seeking approval for the project. Construction is expected to start in Fall 2024, with completion slated for late 2025.

CALIFORNIA:

Steel fabrication company is planning to invest $540 million construction of a 551,000 sf manufacturing and warehouse complex on Sopp Rd. in MOJAVE, CA. 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.

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