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  • Posted On Wednesday, December 04, 2024 by Evan Lamolinara

    Ind Nov 24

    Industrial SalesLeads released its November 2024 report on planned capital project spending in the Industrial Manufacturing industry, highlighting a significant uptick in activity. The firm, which monitors North American industrial capital project plans, including facility expansions, new plant construction, and major equipment modernizations, identified 151 new projects for the month. This marks an increase from the 136 projects reported in October, indicating a steady growth trajectory in the sector's development and investment activity.

    Here are key highlights of the latest construction developments in the Industrial Manufacturing industry.

    Industrial Manufacturing - By Project Type

              Manufacturing/Production Facilities - 124 New Projects

              Distribution and Industrial Warehouse - 62 New Projects

    Industrial Manufacturing - By Project Scope/Activity

              New Construction - 45 New Projects

              Expansion - 42 New Projects

              Renovations/Equipment Upgrades - 74 New Projects

              Plant Closings - 16 New Projects

    Industrial Manufacturing - By Project Location (Top 10 States)

              Ohio - 11

              New York - 10

              California - 9

              North Carolina - 9

              Texas - 9

              Indiana - 8

              South Carolina - 8

              Virginia - 8

              Tennessee - 7

              Illinois - 6

    Largest Planned Project

    In November, our research team identified 17 new Industrial Manufacturing facility construction projects, each valued at $100 million or more. 

    The largest project is owned by Citroniq Chemicals, who is planning to invest $7.5 billion for the construction of a processing facility in FALLS CITY, NE. They are currently seeking approval for the project. Completion is slated for 2029.

    Top 10 Tracked Industrial Manufacturing Projects

    MICHIGAN:

    Steel producer is planning to invest $470 million for the renovation and equipment upgrades on their manufacturing facility in DEARBORN, MI. They are currently seeking approval for the project. They are also considering investing $2 billion to repurpose the same plant in DEARBORN, MI.

     KENTUCKY:

    Battery storage mfr. is planning to invest $712 million for the renovation and equipment upgrades on a 1-million sf manufacturing facility at 139 Logistics Dr. in SHELBYVILLE, KY. They have recently received approval for the project. Completion is slated for late 2025.

    GEORGIA:

    Paper towel and tissue mfr. is planning to invest $600 million for the expansion and equipment upgrades on their manufacturing facility in MACON, GA. They are currently seeking approval for the project.

    OHIO:

    Recycled paper products mfr. is planning to invest $600 million for the construction of a manufacturing and warehouse facility on Olive Rd. in DAYTON, OH. They are currently seeking approval for the project.

    ARKANSAS:

    Wood products mfr. is planning to invest $500 million for the construction of a manufacturing facility in MONTICELLO, AR. They are currently seeking approval for the project. Construction is expected to start in 2025, with completion slated for 2027.

    CALIFORNIA:

    Cement mfr. is planning to invest $500 million for the expansion, renovation, and equipment upgrades on their processing facility in LEBEC, CA. They are currently seeking approval for the project.

    MICHIGAN:

    Steel producer is planning to invest $470 million for the renovation and equipment upgrades on their manufacturing facility in DEARBORN, MI. They are currently seeking approval for the project. They are also considering investing $2 billion to repurpose the same plant in DEARBORN, MI.

    NEW YORK:

    Specialty glass mfr. is planning to invest $347 million for an expansion of their manufacturing facility at 334 Co Rd 16 in CANTON, NY. They are currently seeking approval for the project.

    NORTH CAROLINA:

    Semiconductor component mfr. is planning to invest $305 million for the expansion of their manufacturing facility in GREENSBORO, NC. They are currently seeking approval for the project.

    TENNESSEE:

    HVAC equipment mfr. is planning to invest $238 million for the renovation and equipment upgrades on a 787,000 sf manufacturing facility at 5106 Tradeport Dr. in MEMPHIS, TN. 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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