Industrial SalesLeads announced the October 2024 report on planned capital project spending in the North American industrial sector, revealing 170 new projects, including new plant constructions. The industrial project activity shows a slight 1% decrease from September, with a year-to-date decline of 6% compared to 2023. Compiled by Industrial SalesLeads’ seasoned research team, the data highlights ongoing investment trends and shifts within the industrial sector.
The following are selected highlights on new industrial plant construction news.
Industrial Manufacturing - By Project Type
Manufacturing/Production Facilities - 42 New Projects
Distribution and Industrial Warehouse - 83 New Projects
Processing Facilities - 50 New Projects
Laboratory Facilities - 5 New Projects
Industrial - By Project Location (Top 10 States)
California - 12
Pennsylvania - 11
Texas - 11
Illinois - 9
Indiana - 8
Michigan - 8
New York - 8
Florida - 7
Alabama - 6
Georgia - 6
Largest Planned Project
During the month of October 2024, our research team identified 24 new Industrial Plant construction projects with an estimated value of $100 million or more.
The largest project is owned by Eli Lilly and Company, who are planning to invest $4.5 billion for the construction of a processing, laboratory, and research campus in Lebanon, IN. They are currently seeking approval for the project.
Top 10 Tracked New Industrial Projects
KANSAS:
Electric utility service provider is planning to invest $2 billion for the construction of two natural gas combined cycle-fired power plants in Conway Sptings, KS and Yoder, KS. They are currently seeking approval for the projects. Completion is slated for 2029 and 2030 respectively.
NORTH CAROLINA:
Pharmaceutical company is planning to invest $2 billion for the construction of a processing campus in Wilson, NC. Construction is expected to start in Spring 2025.
ONTARIO:
Mining company is planning to invest $1.3 billion for the construction of a lithium recycling facility in Thunder Bay, ON. Construction is expected to start in 2027, with completion slated for 2028.
NEVADA:
Battery mfr. is planning to invest $1 billion for the construction of a 1.2 million sf manufacturing facility in Reno, NV. They are currently seeking approval for the project. Construction is expected to start in 2025.
PENNSYLVANIA:
Pharmaceutical company is planning to invest $800 million for the construction of 2 processing facilities on their campus in Marietta, PA. They are currently seeking approval for the project. Construction is expected to start in late 2024, with completion slated for late 2028.
INDIANA:
Food and industrial ingredients mfr. is planning to invest $400 million for the construction of a processing facility in Lafayette, IN. They are currently seeking approval for the project.
MICHIGAN:
Semiconductor mfr. is planning to invest $325 million for the construction of a manufacturing facility on their manufacturing campus in Hemlock, Michigan. They are currently seeking approval for the project.
FLORIDA:
Commercial airline is planning to invest $300 million for the construction of a 354,000 sf warehouse, maintenance, and office complex in Orlando, FL. The project includes the renovation of their existing hangar at the site. They will consolidate their regional operations upon completion.
MASSACHUSETTS:
Municipality is planning to invest $248 million for the construction of a wastewater treatment plant on Theophilus F. Smith Rd. in Dennis, MA. They are currently seeking approval for the project. Construction will occur in multiple phases.
NEW JERSEY:
Fruit juice mfr. is planning to invest $200 million for the construction of a 200,000 sf processing facility in Seabrook, NJ. Construction is expected to start in early 2025. They will relocate their operations in phases starting in early 2026, with completion slated for early 2027.
Accessing Detailed Market Intelligence
For businesses aiming to stay ahead in this competitive environment, having access to real-time data and insights on these industrial expansions is critical. Industrial Project Reports offers in-depth, up-to-date information not only on expansions but also on relocations, new construction, equipment upgrades, plant closings, and capital equipment modernizations.
These reports cover key industries such as industrial manufacturing, plastics, food and beverage, metals, power generation, pulp paper and wood, oil and gas, mining and aggregates, chemical, research and development, distribution and supply chain, pipelines, pharmaceutical, misc. industrial buildings, waste water treatment, and data centers—giving you a strategic advantage in identifying new opportunities across North America. Ready to explore how your business can benefit from these expansion projects and more? Learn more about Industrial Project Reports today.
Data for this report was provided by Industrial SalesLeads, a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Industrial SalesLeads is a partner of IndustryNet, helping you to access actionable market insights and generate new sales opportunities. Learn more about how to leverage these resources for your business.
