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  • Posted On Wednesday, January 29, 2025 by Evan Lamolinara

    Manuf 24

    Industrial SalesLeads announced today the CY 2024 results for the new planned capital project spending report for the Industrial Manufacturing industry. The Firm monitors industrial capital project developments across North America, encompassing new plant construction, facility expansions, and major equipment upgrades. Research confirms 1,702 new projects in the Industrial Manufacturing sector identified in 2024. 

    Planned industrial project activity within the sector decreased by 6% from the previous year. The following are selected highlights on new Industrial Manufacturing industry construction news.

    Industrial Manufacturing - By Project Type

                  Manufacturing/Production Facilities - 1481 New Projects

                  Distribution and Industrial Warehouse - 920 New Projects

                  Industrial Manufacturing - By Project Scope/Activity

                  New Construction - 530 New Projects

                  Expansion - 526 New Projects

                  Renovations/Equipment Upgrades - 725 New Projects

                  Plant Closing - 170 New Projects

    Industrial Manufacturing - By Project Location (Top 10 States)

                  Indiana - 126

                  Ohio - 116

                  Texas - 95

                   North Carolina - 93

                   Michigan - 92

                   New York - 77

                  Ontario - 69

                  California - 65

                   Tennessee - 62

                   Illinois - 59

    YOY Growth by State

    Research shows that Missouri state had the highest increase of Industrial Manufacturing projects tracked, with 48% more projects identified than in 2023. Conversely, Georgia state showed the largest decline of projects tracked, with a 56% decline compared to 2023.  

    Most Active Month 

    Research shows that the most active month was March, where 174 new Industrial Manufacturing project opportunities were identified. 

    Largest Month to Month Increase in Projects Tracked 

    Research shows that there was a 35% increase in new projects tracked from January 2024 to February 2024. Conversely, Mar-Apr showed the largest month to month decline; with 174 new projects in March and 110 in April. 

    Opportunities - By Equipment Need

                  Manufacturing Equipment - 1210

                  Air Emissions Control Equipment - 1472  

                  Compressed Air Systems - 1472

                  Control Systems and Instrumentation - 1391

                  Conveyors - 1391

                  Cranes and Hoists - 1253

                  Floor Coatings - 921

                  Material Handling/Storage Equipment - 1506

                  Packaging Equipment - 1271

                  Equipment Relocation - 176

    Largest Planned Project

    During the year 2024, our research team identified 213 new Industrial Manufacturing 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 12 Largest Industrial Manufacturing Projects

    JANUARY

    Automotive mfr. is considering investing $14 billion for the construction of an EV battery manufacturing facility and currently seeking a site in ONTARIO.

    FEBRUARY

    Semiconductor mfr. is planning to invest $100 billion for the construction of a 7.2 million sf manufacturing complex in CLAY, NY. Construction will occur in phases, with completion slated for 2030.

    MARCH 

    Semiconductor mfr. is investing $28 billion for the construction of a manufacturing and office campus in NEW ALBANY, OH. Completion is slated for late 2026.

    APRIL

    Semiconductor packaging mfr. is planning to invest $4 billion for the construction of a 430,000 sf manufacturing and research facility at 1281 Win Hentschel Blvd. in WEST LAFAYETTE, IN. Completion is slated for Fall 2028.

    MAY

    Automotive mfr. is planning to invest $15 billion for the construction of an EV battery manufacturing complex in ALLISTON, ON. Completion is slated for 2028.

    JUNE

    Pharmaceutical company is planning to invest $5 billion for an expansion of their processing facility in LEBANON, IN. Completion is slated for 2028.

    JULY

    Federal agency is planning to invest $3 billion for the expansion of their electronic 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.

    AUGUST

    Startup battery mfr. is planning to invest $1.4 billion for the construction of a 1.2 million sf manufacturing facility in ROCKY MOUNT, NC.

    SEPTEMBER

    Steel company is planning to invest $1 billion for the renovation and equipment upgrades on their manufacturing facilities in CLAIRTON, PA, BRADDOCK, PA, FAIRLESS HILLS, PA, and WEST MIFFLIN, PA. 

    OCTOBER

    Pharmaceutical company is planning to invest $4.5 billion for the construction of a processing, laboratory, and research campus in LEBANON, IN. They are currently seeking approval for the project.

    NOVEMBER

    Specialty plastic mfr. 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.

    DECEMBER

    Automotive mfr. 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.

     

    About Industrial SalesLeads, Inc.

    Since 1959, Industrial SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and Outsourced Lead Generation services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, 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 Lead Generation 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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