Industrial SalesLeads released its latest MiR Report for September 2024 results for the Industrial Manufacturing industry’s planned capital project spending. This comprehensive report tracks North American industrial capital project activities, encompassing facility expansions, new plant constructions, and significant equipment modernization projects. The data within the report serves as a valuable resource for businesses seeking insights into industrial investment trends and strategic decision-making.
Research confirms 128 new projects, a notable decline from August, which reported 168 projects in the Industrial Manufacturing sector.
The following are selected highlights of the new Industrial Manufacturing industry construction news.
Industrial Manufacturing – By Project Type
- Manufacturing/Production Facilities – 100 New Projects
- Distribution and Industrial Warehouse – 75 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 35 New Projects
- Expansion – 36 New Projects
- Renovations/Equipment Upgrades – 54 New Projects
- Plant Closings – 15 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- Indiana – 11
- Michigan – 9
- Ohio – 9
- Texas – 8
- Tennessee – 7
- Ontario – 6
- Pennsylvania – 6
- Virginia – 6
- Louisiana – 5
- New York – 5
Largest Planned Project
In September, our research team identified 16 new industrial manufacturing facility construction projects with an estimated value of $100 million or more.
Highland Materials, Inc., which owns the largest project, plans to invest $1.4 billion in constructing a 1.2 million-square-foot manufacturing facility in Rocky Mount, NC. The company is currently seeking approval for the project.
Top 10 Tracked Industrial Manufacturing Projects
TENNESSEE:
Specialty silicon product manufacturer plans to invest $1 billion in constructing a 1.2 million-square-foot manufacturing facility in SURGOINSVILLE, TN. They are seeking approval for the project, which is expected to start in 2026.
NORTH CAROLINA:
A titanium manufacturer plans to invest $868 million in constructing a 500,000-square-foot manufacturing facility at 557 Bethune Dr. in FAYETTEVILLE, NC. They are seeking approval for the project, which is slated for completion in 2027.
KENTUCKY:
Battery Manufacturing Company is seeking approval for a $712 million project to construct a manufacturing facility in SHELBYVILLE, KY.
INDIANA:
Solar panel manufacturer is planning to invest $500 million in the renovation and equipment upgrades of a 781,000-SF—manufacturing and warehouse facility at 5880 W. Indiana 28 in TIPTON, IN. Construction is expected to start early in 2025, with completion slated for fall 2026.
MICHIGAN:
Automotive manufacturers plan to invest $400 million in renovations and equipment upgrades at their manufacturing facilities in STERLING HEIGHTS, MI, WARREN, MI, and DUNDEE, MI. It is currently seeking approval for the project.
PENNSYLVANIA:
A plastic recycling service provider is seeking approval for a $183 million project to construct a warehouse and processing facility in ERIE, PA.
MICHIGAN:
An EV battery manufacturer is planning to invest $175 million in constructing a manufacturing facility in Flint, MI, and is seeking approval for the project.
WEST VIRGINIA:
A battery technology company plans to invest $150 million in expanding its manufacturing facility in WEIRTON, WV. It is currently seeking approval for the project.
ILLINOIS:
A pharmaceutical company plans to invest $146 million to expand its manufacturing, processing, and distribution campus in ROCKFORD, IL, by 545,000 SF. Completion is slated for Fall 2025.
MICHIGAN:
Battery materials manufacturing company plans to invest $125 million in constructing a manufacturing facility at 4925 Evanston Ave. in EGELSTON TOWNSHIP, MI. They are currently seeking approval for the project, which is expected to start in early 2026.
About Industrial SalesLeads, Inc.
Since 1959, Industrial SalesLeads, based in Jacksonville, FL, has been 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.
