IMI SalesLeads announced today the June 2023 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 141 new projects in June as compared to 184 in May the Industrial Manufacturing sector.
The following are selected highlights on new Industrial Manufacturing industry construction news.
Industrial Manufacturing – By Project Type
- Manufacturing/Production Facilities – 132 New Projects
- Distribution and Industrial Warehouse – 61 New Projects
Industrial Manufacturing – By Project Scope/Activity
- New Construction – 38 New Projects
- Expansion – 46 New Projects
- Renovations/Equipment Upgrades – 59 New Projects
- Plant Closings – 17 New Projects
Industrial Manufacturing – By Project Location (Top 10 States)
- Texas – 12
- Michigan – 11
- New York – 10
- North Carolina – 9
- Georgia – 7
- Illinois – 6
- Ohio – 6
- Alabama – 5
- Kentucky – 5
- Pennsylvania – 5
Largest Planned Project
During the month of June, our research team identified 18 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.
The largest project is owned by Nexen Tire America Inc., who is planning to invest $3 billion for the construction of an EV battery manufacturing facility in NEW CARLISLE, IN. Construction is expected to start in 2025, with completion slated for 2026.
Top 10 Tracked Industrial Manufacturing Projects
GEORGIA:
Tire MFR. is considering investing $1 billion for the construction of a manufacturing facility and currently seeking a site in GEORGIA.
MICHIGAN:
Automotive MFR. is planning to invest $1 billion for the renovation and equipment upgrades on two of their manufacturing facilities in FLINT, MI. They are currently seeking approval for the project.
ALBERTA:
Fiberboard mfr. is planning to invest $790 million for the construction of a manufacturing facility in STETTLER, AB. They are currently seeking approval for the project.
INDIANA:
Automotive MFR. is planning to invest $632 million for the renovation and equipment upgrades on their manufacturing facility in ROANOKE, IN. They are currently seeking approval for the project.
KENTUCKY:
Automotive mfr. is planning to invest $591 million for the renovation and equipment upgrades on their manufacturing facility in GEORGETOWN, KY. They are currently seeking approval for the project. Completion is slated for 2025.
NORTH CAROLINA:
Pharmaceutical company is expanding and planning to invest $500 million for the construction of a manufacturing, processing, and office facility at 67 TW Alexander Drive in DURHAM, NC. They are currently seeking approval for the project. Construction is expected to start in early 2024, with completion slated for early 2026.
TEXAS:
Automotive MFR. is planning to invest $500 million for the renovation and equipment upgrades on their manufacturing facility at 2525 E. Abram St. in ARLINGTON, TX. They are currently seeking approval for the project.
NORTH CAROLINA:
Biotechnology company is planning to invest $458 million for the renovation and equipment upgrades on a 210,000 SF processing facility in GREENSBORO, NC. They are currently seeking approval for the project.
MISSISSIPPI:
Specialty building products mfr. is planning to invest $418 million for the construction of a manufacturing facility in SHUQUALAK, MS. They are currently seeking approval for the project.
ALABAMA:
Wood panel product mfr. is planning to invest $350 million for the construction of a manufacturing facility in OXFORD, AL. They are currently seeking approval for the project. Construction is expected to start in Fall 2023.
About IMI SalesLeads, Inc.
Since 1959, IMI SalesLeads, based in Jacksonville, FL is a provider 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.
