SalesTrends January 2023 image

New Industrial Manufacturing Planned Projects grew 50% from November to December 2022

IMI SalesLeads announced the December 2022 results for the newly 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 177 new projects in December compared to 118 in November in the Industrial Manufacturing sector.

The following are selected highlights on new Industrial Manufacturing industry construction news.

Industrial Manufacturing – By Project Type

  •             Manufacturing/Production Facilities – 151 New Projects
  •             Distribution and Industrial Warehouse – 75 New Projects

Industrial Manufacturing – By Project Scope/Activity

  •             New Construction – 64 New Projects
  •             Expansion – 58 New Projects
  •             Renovations/Equipment Upgrades – 60 New Projects
  •             Plant Closings – 15 New Projects

Industrial Manufacturing – By Project Location (Top 10 States)

  • New York – 16
  • South Carolina – 14
  • Michigan – 12
  • North Carolina – 10
  • Ohio – 9
  • Texas – 9
  • Tennessee – 8
  • Massachusetts – 7
  • Wisconsin – 7
  • California – 6

Largest Planned Project

During the month of December, our research team identified 22 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.

The largest project is owned by Taiwan Semiconductor Manufacturing Company, which is planning to invest $12 billion for the construction of a manufacturing facility adjacent to its existing under-construction plant in PHOENIX, AZ. Completion is slated for 2024.

Top 10 Tracked Industrial Manufacturing Projects

GEORGIA:

Automotive mfr. is planning to invest $5 billion in the construction of an EV battery manufacturing facility in CARTERSVILLE, GA. They have recently received approval for the project. Completion is slated for 2025.

SOUTH CAROLINA:

Battery component mfr. and recycling company is planning to invest $3.5 billion for the construction of a manufacturing, recycling, warehouse, and office complex in CHARLESTON, SC. Construction will occur in phases and is expected to start in early 2023.

TEXAS:

Optical communication products mfr. is planning to invest $3 billion for the expansion of its manufacturing facility in SHERMAN, TX. Construction is expected to start in 2025, with completion slated for 2028.

ARIZONA:

Startup battery mfr. is planning to invest $1.2 billion for the construction of a manufacturing facility in TUCSON, AZ. They are currently seeking approval for the project.

ALABAMA:

Solar panel mfr. is planning to invest $1.1 billion for the construction of a 2.4 million SF manufacturing facility in TRINITY, AL. They are currently seeking approval for the project. Completion is slated for 2025.

MICHIGAN:

Paper and packaging product mfr. is planning to invest $1 billion for the renovation and equipment upgrades on its manufacturing facility in ESCANABA, MI. They are currently seeking approval for the project.

GEORGIA:

Automotive component mfr. is planning to invest $926 million for the construction of a 1.2 million SF manufacturing facility in RICHMOND HILL, GA. They have recently received approval for the project. Construction is expected to start in early 2023, with completion slated for 2024. 

SOUTH CAROLINA:

EV battery mfr. is planning to invest $810 million for the construction of a 1.5 million SF manufacturing facility in FLORENCE, SC. They have recently received approval for the project.

MICHIGAN:

A pharmaceutical company is planning to invest $750 million for the expansion and equipment upgrades on their processing facility in KALAMAZOO, MI. They are currently seeking approval for the project.

COLORADO:

Semiconductor equipment mfr. is planning to invest $600 million in the construction of a manufacturing facility in COLORADO SPRINGS, CO. They are currently seeking approval for the project. Completion is slated for the Summer of 2024.

About IMI SalesLeads, Inc.

Since 1959, IMI 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.