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Decrease in planned new industrial production projects in April 2024

Decrease in planned new industrial production projects in April 2024

JACKSONVILLE BEACH, Fla., May 7, 2024 (SEND2PRESS NEWSWIRE) — Industrial SalesLeads today announced the April 2024 results for its new planned capital project expenditures report for the industrial manufacturing industry. The company monitors planned industrial capital project activity in North America; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 110 new projects, up from 174 in March 2024.

Decrease in planned new industrial production projects in April 2024
Image caption: Drop of the planned industrial project for new industrial production in April 2024.

Below are selected highlights of new construction news from the industrial manufacturing industry.

Industrial production – by project type

  • Production/production facilities – 96 new projects
  • Distribution and industrial warehouses – 75 new projects

Industrial production – by project size/activity

  • New construction – 41 new projects
  • Expansion – 35 new projects
  • Equipment renovations/upgrades – 38 new projects
  • Factory closures – 11 new projects

INDUSTRIAL PRODUCTION – BY PROJECT LOCATION (TOP 10 STATES)

Indiana – 10

Texel – 9

Ohio-8

Louisiana – 6

Washington – 6

Alabama-5

Florida-4

North Carolina – 4

Ontario – 4

Pennsylvania – 5

LARGEST PLANNED PROJECT

During the month of April, our research team identified 22 new construction projects for industrial manufacturing facilities with an estimated value of $100 million or more.

The largest project is owned by SK hynix America, which plans to invest $4 billion to build a 430,000-square-foot manufacturing and research facility at 1281 Win Hentschel Blvd. in WEST LAFAYETTE, IN. They are currently seeking approval for the project. Delivery is scheduled for autumn 2028.

TOP 10 TRACKED INDUSTRIAL PROJECTS

ONTARIO:

Pharmaceutical company plans to invest $2 billion to build two processing facilities in TORONTO, ON. The project includes the renovation and equipment upgrades of their existing processing and laboratory facilities at the site. Completion is scheduled for 2027.

NORTH CAROLINA:

The biotechnology company plans to invest an additional $1.2 billion to expand their currently under construction processing facility at 11751 Holly Springs New Hill Road in HOLLY SPRINGS, NC. The first phase is scheduled for completion in the summer of 2025.

GEORGIA:

A plastics recycling service provider plans to invest $950 million to build a 2.5 million sf processing and warehouse facility in THOMASTON, Georgia. They are currently seeking approval for the project. Construction is expected to start in 2025 and completion is scheduled for 2027.

OHIO:

Automotive mfr. plans to invest $700 million in the renovation and equipment upgrades of their manufacturing facilities in MARYSVILLE, OH, EAST LIBERTY, OH and ANNA, OH. They are currently seeking approval for the project.

INDIANA:

Cement mfr. plans to invest $500 million in renovations and equipment upgrades to their MITCHELL, IN processing facility. They are currently seeking approval for the project.

TENNESSEE:

Industrial ventilation equipment mfr. plans to invest $300 million to build a manufacturing, warehouse and office campus in KNOXVILLE, TN. They are currently seeking approval for the project. Construction will take place in phases, with the first phase scheduled for completion in the summer of 2026.

MICHIGAN:

Auto parts manufacturer plans to invest $278 million to build a 713,000 sf manufacturing facility in AUBURN HILLS, MI. They are currently seeking approval for the project. Construction is expected to start in late spring 2024 and completion is scheduled for late 2025.

TEXAS:

Window and door mfr. plans to invest $121 million to build a 650,000-square-foot manufacturing, warehouse and office facility in MANSFIELD, Texas. They recently received approval for the project.

MANITOBA:

The startup pharmaceutical company plans to invest $120 million to build a processing and warehouse facility in WINNIPEG, MB. They are currently seeking approval for the project.

ALABAMA:

The lumber company plans to invest $115 million to build a sawmill in KELLYTON, AL. They recently received approval for the project. Delivery is scheduled for early autumn 2025.

About Industrial SalesLeads, Inc.

Since 1959, Industrial SalesLeads, based in Jacksonville, FL, has been a leader in providing 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 current insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closures in industrial facilities. An extension of your sales team, Outsourced Prospecting Services is designed to drive growth with qualified meetings and appointments for your internal sales team. Visit us at salesleadsinc.com.

Every month our team delivers hundreds of industry reports across various sectors, including:

More information: https://www.salesleadsinc.com/industry/industrial-manufacturing/

News source: Industrial SalesLeads Inc