December 2024 Levels Off with 138 New Industrial Manufacturing Identified Projects

Industrial SalesLeads released its capital project spending report, providing analysis and insights into current and upcoming investments across the industrial manufacturing sector. After an unpredictable Q1 and Q2, the second half of 2024 brought about more stability in industrial projects. Industrial SalesLeads tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. To end the year, our research team confirms 138 new industrial projects.

Here are key insights from the industrial manufacturing projects and highlights of recent construction news in the Industrial Manufacturing sector.

Industrial Manufacturing - By Project Type

          Manufacturing/Production Facilities - 119 New Projects

          Distribution and Industrial Warehouse - 70 New Projects

Industrial Manufacturing - By Project Scope/Activity

          New Construction - 38 New Projects

          Expansion - 55 New Projects

          Renovations/Equipment Upgrades - 69 New Projects

          Plant Closings - 10 New Projects

Industrial Manufacturing - By Project Location (Top 10 States)

          South Carolina - 12

          North Carolina - 10

          Florida - 9

          Illinois - 8

          Indiana - 8

          Michigan - 8

          Minnesota - 7

          New York - 7

          Texas - 7

          Tennessee - 6

Largest Planned Project

During the month of December, our research team identified 18 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more. 

The largest project is owned by Ford Motor Company, who is investing $5.6 billion for the construction of a 4 million sf EV automotive and battery manufacturing campus in STANTON, TN. Completion is slated for Fall 2027.

Top 10 Tracked Industrial Manufacturing Projects

WISCONSIN:

Pharmaceutical company is planning to invest $3 billion for the expansion of their processing facility in PLEASANT PRAIRIE, WI. They are currently seeking approval for the project. Construction is expected to start in 2025.

VIRGINIA:

Semiconductor mfr. is planning to invest $2.2 billion for the expansion and equipment upgrades on their manufacturing facility in MANASSAS, VA. They are currently seeking approval for the project.

NORTH CAROLINA:

Biotechnology company is planning to invest $1 billion for the expansion of their processing facility in HOLLY SPRINGS, NC. They are currently seeking approval for the project.

SOUTH CAROLINA:

Aerospace company is planning to invest $1 billion for the expansion and equipment upgrades on their manufacturing facilities in NORTH CHARLESTON, SC, and LADSON, SC. The project includes the construction of a maintenance and testing facility at the site. Completion is slated for 2027.

TENNESSEE:

Battery component mfr. is considering investing $1 billion for the construction of a manufacturing facility and currently seeking a site in the CHATTANOOGA, TN area. Watch SalesLeads for updates.

KENTUCKY:

Automotive mfr. is planning to invest $922 million for a 1 million sf expansion and equipment upgrades on their manufacturing and warehouse facility in GEORGETOWN, KY. Completion is slated for 2027.

TEXAS:

Aerospace company is planning to invest $429 million for the renovation and equipment upgrades on a 447,000 sf manufacturing and warehouse facility at 15100 N. Beach Street in FORT WORTH, TX. They have recently received approval for the project.

MICHIGAN:

Truck component mfr. is planning to invest $285 million for the expansion and equipment upgrades on their manufacturing facility in REDFORD TOWNSHIP, MI. They are currently seeking approval for the project. Construction is expected to start in early 2025.

NORTH CAROLINA:

Specialty wire products mfr. is considering investing $194 million for the construction of a manufacturing facility and currently seeking a site in CHATHAM COUNTY, NC. Watch SalesLeads for updates.

SOUTH CAROLINA:

Automotive component mfr. is planning to invest $194 million for the expansion of their manufacturing facility in PIEDMONT, SC. 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.

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