Industrial Manufacturing Shows 4.1% Decrease in May 2022

SalesLeads announced today the May 2022 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 142 new projects in May and 148 in April in the Industrial Manufacturing sector as seen in the enclosed chart.

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

Industrial Manufacturing – By Project Type

  • Manufacturing/Production Facilities – 124 New Projects
  • Distribution and Industrial Warehouse – 53 New Projects

Industrial Manufacturing – By Project Scope/Activity

  • New Construction – 45 New Projects
  • Expansion – 54 New Projects
  • Renovations/Equipment Upgrades – 45 New Projects
  • Plant Closings – 11 New Projects

Industrial Manufacturing – By Project Location (Top 10 States)

  • North Carolina – 13
  • Indiana – 9
  • California – 8
  • New York – 6
  • Ohio – 6
  • Pennsylvania – 6
  • Tennessee – 6
  • Washington – 6
  • Wisconsin – 6
  • Georgia – 5

Largest Planned Project

During the month of May, our research team identified 12 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.

The largest project is owned by Hyundai Motor America, who is planning to invest $6 billion for the construction of an EV manufacturing facility in SAVANNAH, GA. Construction is expected to start in early 2023, with completion slated for Spring 2025.

Top 10 Tracked Industrial Manufacturing Projects

ALABAMA: Aluminum products mfr. is planning to invest $2.5 billion for the construction of a manufacturing facility in BAY MINETTE, AL. Completion is slated for 2025.

INDIANA: Pharmaceutical company is planning to invest $2.1 billion for the construction of two processing facilities in BOONE COUNTY, IN. They are currently seeking approval for the project.

NEW MEXICO: Investment firm is planning to invest $2 billion for the construction of an aluminum products recycling and manufacturing facility in LOS LUNAS, NM. They are currently seeking approval for the project. Construction is expected to start in late 2023, with completion slated for 2026.

MICHIGAN: Pharmaceutical company is planning to invest $160 million for an expansion and equipment upgrades at their warehouse, manufacturing, and laboratory facility in GRAND RAPIDS, MI. They are currently seeking approval for the project.

NORTH CAROLINA: Plastic material mfr. is planning to invest $80 million for the construction of a manufacturing facility in GASTONIA, NC. Completion is slated for Fall 2025.

CALIFORNIA: Biotechnology company is planning to invest $75 million for the renovation and equipment upgrades on their laboratory and processing facility in LA JOLLA, CA. They have recently received approval for the project.

NEBRASKA: Industrial supplies mfr. is planning to invest $58 million for the expansion of their warehouse and manufacturing facility in VALLEY, NE by 80,000 sf. They have recently received approval for the project.

UTAH: Nutritional products mfr. is planning to invest $50 million for the construction of a processing facility in BEAVER, UT. They are currently seeking approval for the project.

MASSACHUSETTS: Battery mfr. is planning to invest $45 million for the renovation and equipment upgrades on a 67,000 sf manufacturing facility at 501 Griffin Brook Dr. in METHUEN, MA. They have recently received approval for the project. They will relocate operations upon completion.

CONNECTICUT: Biotechnology company is planning to invest $36 million for the construction of a 50,000 sf laboratory and processing facility at 2195 Day Hill Rd. in WINDSOR, CT. They are currently seeking approval for the project.

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