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  • Posted On Wednesday, June 05, 2024 by Evan Lamolinara

    Indmay2024

    Industrial SalesLeads announced today the May 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 147 new projects as compared to 110 in April and 174 in March.

    The following are selected highlights on new Industrial Manufacturing industry construction news.

    Industrial Manufacturing - By Project Type

                Manufacturing/Production Facilities - 129 New Projects

                Distribution and Industrial Warehouse - 73 New Projects

     

    Industrial Manufacturing - By Project Scope/Activity

                New Construction - 42 New Projects

                Expansion - 52 New Projects

                Renovations/Equipment Upgrades - 66 New Projects

                Plant Closings - 14 New Projects

     

    Industrial Manufacturing - By Project Location (Top 10 States)

                Indiana - 10

                Ohio - 10

                Texas - 9

                Michigan - 8

                New York - 8

                California - 7

                Pennsylvania - 7

                South Carolina - 7

                North Carolina - 6

                Quebec - 5

     

    Largest Planned Project

    During the month of May, our research team identified 22 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more. 

    The largest project is owned by Honda Canada Inc., who is planning to invest $15 billion for the construction of an EV battery manufacturing complex in ALLISTON, ON. They are currently seeking approval for the project. Completion is slated for 2028.

     

    Top 10 Tracked Industrial Manufacturing Projects

    ILLINOIS:

    EV mfr. is planning to invest $1.5 billion for the expansion and equipment upgrades on their manufacturing facility in NORMAL, IL. They are currently seeking approval for the project.

    INDIANA:

    Automotive mfr. is planning to invest $1.4 billion for the expansion, renovation, and equipment upgrades on their manufacturing facility in PRINCETON, IN. Construction is expected to start in Fall 2024, with completion slated for late 2026.

    QUEBEC:

    Global technology company is planning to invest $730 million for the expansion and equipment upgrades on their manufacturing facility in BROMONT, QC. They are currently seeking approval for the project.

    TEXAS:

    Automotive mfr. is planning to invest $531 million for the expansion of their manufacturing facility at 1 Lone Star Pass in SAN ANTONIO, TX by 500,000 sf. They are currently seeking approval for the project.

    MINNESOTA:

    Semiconductor mfr. is planning to invest $525 million for the expansion and equipment upgrades on their manufacturing facility in BLOOMINGTON, MN. They are currently seeking approval for the project.

    GEORGIA:

    Hygiene products mfr. is planning to invest $418 million for the expansion and equipment upgrades on their manufacturing, warehouse, and office facility in MACON, GA. They are currently seeking approval for the project.

    KANSAS:

    Automotive mfr. is planning to invest $390 million for the renovation and equipment upgrades on their manufacturing facility at 3201 Fairfax Trafficway in KANSAS CITY, KS. They are currently seeking approval for the project.

    NORTH CAROLINA:

    Solar panel mfr. is planning to invest $300 million for the construction of a 1-million sf manufacturing facility in GREENVILLE, NC. They have recently received approval for the project.

     NEVADA:

    Recycled paper product mfr. is planning to invest $272 million for the construction of a recycling facility in WINNEMUCCA, NV. They have recently received approval for the project.

    WASHINGTON:

    Aerospace company is planning to invest $200 million for a 70,000 sf expansion and equipment upgrades on their manufacturing facility in SPOKANE, WA. 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.

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

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