Summer slowdown hits in July 2024 with 138 new industrial manufacturing planned industrial projects

Industrial

SalesLeads announced today the July 2024 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 138 new projects as compared to 164 in June.

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

Industrial Manufacturing - By Project Type

• Manufacturing/Production Facilities - 121 New Projects
• Distribution and Industrial Warehouse - 73 New Projects
  

Industrial Manufacturing - By Project Scope/Activity

• New Construction - 54 New Projects
• Expansion - 36 New Projects
  
• Renovations/Equipment Upgrades - 54 New Projects
  
• Plant Closings - 12 New Projects
  

Industrial Manufacturing - By Project Location (Top 10 States)

• Texas - 11
• Ohio - 9
  
• Indiana - 8
  
• Illinois - 7
  
• Michigan - 7
  
• Pennsylvania - 7
  
• California - 6
  
• Georgia - 6
  
• Massachusetts - 6
  
• Ontario - 6
  

LARGEST PLANNED PROJECT

During the month of July, our research team identified 27 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 10 TRACKED INDUSTRIAL MANUFACTURING PROJECTS

MISSOURI:

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

TEXAS:

Federal agency is planning to invest $1.4 billion for the construction of a semiconductor manufacturing and office campus at the University of Texas in AUSTIN, TX. They are currently seeking approval for the project. Construction will occur in two phases.

VIRGINIA:

Industrial wire and cable mfr. is planning to invest $681 million for the construction of a 750,000 sf manufacturing and warehouse facility at 1213 Victory Blvd. in CHESAPEAKE, VA. Construction is expected to start in early 2025, with completion slated for early 2028.

OKLAHOMA:

Solar panel component mfr. is planning to invest $620 million for the construction of a manufacturing facility at Tulsa International Airport in TULSA, OK. They are currently seeking approval for the project. Construction is expected to start in late 2024, with completion slated for 2026.

CALIFORNIA:

Steel fabrication company is planning to invest $540 million construction of a 551,000 sf manufacturing and warehouse complex on Sopp Rd. in MOJAVE, CA. They are currently seeking approval for the project.

GEORGIA:

Tire mfr. is considering investing $500 million for the construction of a manufacturing facility and currently seeking a site in GEORGIA. Watch SalesLeads for updates.

MICHIGAN:

Automotive mfr. is planning to invest $500 million for the renovation and equipment upgrades on their manufacturing facility at 920 Townsend St. in LANSING, MI. They are currently seeking approval for the project.

KENTUCKY:

Automotive mfr. is planning to invest $400 million for the construction of a manufacturing facility in SHELBYVILLE, KY. They are currently seeking approval for the project.

NORTH CAROLINA:

Medical device mfr. is planning to invest $400 million for the construction of a 550,000 sf manufacturing, warehouse, office, and training campus at 1911 Old Creek Road in GREENVILLE, NC. Construction is expected to start in Fall 2024, with completion slated for late 2026.

ILLINOIS:

Automotive mfr. is planning to invest $334 million for the renovation and equipment upgrades on their manufacturing facility in BELVIDERE, IL. They are currently seeking approval for the project.