Based on the latest recent market research conducted by Industrial SalesLeads, a partner of IndustryNet, a total of 781 planned industrial expansion projects have been monitored from January to August 2024. This period ascertained a notable 39% rise in planned industrial expansion activities compared to the previous period. These figures underline the dynamic nature of industrial projects in North America, offering valuable insights and highlighting numerous new opportunities for industrial expansion across the region.
Project Category for Planned Industrial Expansions
o Manufacturing Facilities - 337 New Projects
o Processing Facilities - 215 New Projects
o Distribution and Industrial Warehouse - 297 New Projects
o Power/Energy/Oil and Gas - 4 New Projects
o Terminal Facilities - 0 New Projects
o Mine - 1 New Project
Top 10 States for Planned Industrial Expansion
1. Ohio - 53
2. New York - 52
3. Michigan - 49
4. Texas - 47
5. North Carolina - 35
6. Georgia - 32
7. Tennessee - 32
8. Ontario - 29
9. Indiana - 28
10. Pennsylvania - 28
Largest Planned Industrial Construction Project
Throughout the months of January to August 2024, our dedicated research team diligently pinpointed 65 new industrial facility expansion ventures, each valued at $100 million or more. Among these exceptional projects stands GlobalFoundries' ambitious $12 billion investment in constructing a 358,000 square foot manufacturing facility within their MALTA, NY manufacturing campus. This substantial undertaking encompasses the expansion of their current plant and is slated to complete construction in 2025. The scale and strategic significance of this planned industrial construction project make it a notable venture for industrial development.
Top 10 Tracked Industrial Construction Projects
Indiana:
A pharmaceutical company has proposed a planned industrial construction project in Lebanon, IN, with a substantial investment of $5 billion for expanding their processing facility. The project is currently in the approval-seeking stage, indicating a meticulous planning phase to ensure the successful completion by 2028. This significant investment highlights the company's commitment to enhancing its infrastructure and operational capabilities, positioning itself for future growth.
Missouri:
A Federal agency has announced a significant investment of $3 billion for the expansion of their nuclear weapon component manufacturing complex in Kansas City, MO, adding 2.5 million square feet to the existing facility. This planned industrial construction project will take place in multiple phases, with the completion of the 1st phase scheduled for Summer 2026. The expansion aims to enhance production capabilities and infrastructure, contributing to the agency's strategic objectives.
Illinois:
A planned industrial construction project is set to take place in Normal, IL, where an electric vehicle manufacturer aims to invest $1.5 billion. This investment will mainly focus on expanding and upgrading their manufacturing facility to enhance production capabilities. Currently in the seeking approval stage, the EV manufacturer is aligning all necessary resources and strategies to ensure successful execution.
North Carolina:
A pharmaceutical company in Clayton, NC, is embarking on a significant planned industrial construction project to expand their processing facility. With a substantial investment of $1.5 billion, their aim is to enhance their capabilities and meet the growing demands. Currently in the process of seeking approval for the project, the company is dedicated to executing the expansion.
Ohio:
The energy company is strategically gearing up for a substantial $1.5 billion investment towards expanding and upgrading processing facilities in Lima, OH, and Oregon, OH. Currently in the pivotal stage of seeking project approval, the company's vision is set on solidifying their infrastructure to meet the evolving industry demands and reinforce their position in the market with state-of-the-art facilities.
South Carolina:
A planned industrial construction project in Florence, SC is underway as an EV battery manufacturer is set to invest $1.5 billion for expanding their manufacturing facility. The completion of this expansion is currently scheduled for 2027, showcasing a substantial commitment to growth and innovation within the region. The project aims to not only enhance the company's manufacturing capabilities but also contribute to the economic development of Florence, SC.
Indiana:
An automotive manufacturer has announced an investment totaling $1.4 billion towards the enhancement of their manufacturing facility in Princeton, IN. This planned industrial construction project encompasses expansion, renovation, and equipment upgrades, reflecting the company's commitment to innovation and growth. With construction slated to start in Fall 2024, and a target completion date set for late 2026.
North Carolina:
A biotechnology company has announced its strategic decision to further invest $1.2 billion into expanding the processing facility currently under construction in Holly Springs, NC. With the completion of the first phase scheduled for Summer 2025, this project signifies a significant step towards enhancing the company's operational capacity and growth trajectory.
Quebec
An aerospace company has embarked on a significant planned industrial construction project investing a substantial $1.2 billion for the expansion of their manufacturing facility in Mirabel, Quebec. Their recent approval for the project highlights strategic planning in establishing a state-of-the-art facility that will enhance their operations and overall competitiveness.
Texas
The Specialty Materials Company is embarking on a significant planned industrial construction project in Longview, TX, aiming to invest $1 billion for the expansion of their manufacturing facility. The company is seeking approval for the project.
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.
