Industrial SalesLeads announced today the March 2024 results for the new planned capital project spending report for the Food and Beverage industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 66 new projects as compared to 73 in March 2024.
The following are selected highlights on new Food and Beverage industry construction news.
Food and Beverage Project Type
Processing Facilities – 41 New Projects
Distribution and Industrial Warehouse – 26 New Projects
Food and Beverage Project Scope/Activity
New Construction – 22 New Projects
Expansion – 16 New Projects
Renovations/Equipment Upgrades – 31 New Projects
Plant Closing – 6 New Projects
Food and Beverage Project Location (Top 10 States)
California – 7
Illinois – 6
Ohio – 5
Florida – 4
Indiana – 4
Michigan – 3
Ontario – 3
Texas – 3
Wisconsin – 3
Colorado – 2
Largest Planned Project
During the month of March, our research team identified 5 new Food and Beverage facility construction projects with an estimated value of $100 million or more.
The largest project is owned by Daisy Brand, who is investing $708 million for the construction of a 750,000 sf processing and warehouse facility in BOONE, IA. They are currently seeking approval for the project.
Top 10 Tracked Food and Beverage Projects
SOUTH DAKOTA:
Startup dairy company is planning to invest $191 million for the construction of a processing facility in KINGSBURY COUNTY, SD. They have recently received approval for the project.
MICHIGAN:
Nutritional product mfr. is planning to invest $128 million for the expansion, renovations, and equipment upgrades on their processing, laboratory, office, and storage facilities at 5101 Spaulding Plaza SE and 7575 Fulton Street E. in ADA, MI. They are currently seeking approval for the project.
ONTARIO:
Chocolate mfr. is planning for the renovation and equipment upgrades on a recently acquired 700,000 sf processing, warehouse, and office facility at 1 Hershey Dr. in SMITHS FALLS, ON. They are currently seeking approval for the project.
VIRGINIA:
Dairy company is planning to invest $84 million for the expansion and equipment upgrades on their processing facility in WINCHESTER, VA. They have recently received approval for the project.
OHIO:
Food processing company is planning to invest $65 million for a 120,000 sf expansion, renovations, and equipment upgrades on a processing facility at 2295 E. 55th St. in CLEVELAND, OH. They are currently seeking approval for the project. Construction is expected to start in Summer 2024.
MAINE:
Startup snack food mfr. is planning to invest $55 million for the construction of an 80,000 sf processing facility at 250 Northcutt Rd. in LIMESTONE, ME. They have recently received approval for the project. Construction is expected to start in Summer 2024, with completion slated for late Fall 2025.
WISCONSIN:
Cheese mfr. is planning for the renovation and equipment upgrades on a 310,500 sf warehouse facility in CALEDONIA, WI. They are currently seeking approval for the project.
CALIFORNIA:
Frozen food mfr. has recently agreed to pre-lease 204,000 sf of cold storage warehouse space in TULARE, CA. They will relocate a portion of their operations from NEVADA upon completion in Fall 2024.
OHIO:
Animal feed mfr. is planning to invest $12 million for the construction of a 100,000 sf warehouse facility in CRAWFORD TOWNSHIP, OH. They have recently received approval for the project.
RHODE ISLAND:
Food service distributor is planning for the renovation and equipment upgrades on a recently leased 84,000 sf processing facility at 100 Higginson Ave. in LINCOLN, RI. They will relocate their operations upon completion.
About Industrial SalesLeads, Inc.
Since 1959, Industrial 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. Visit us at salesleadsinc.com.
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