SalesLeads announced today the May 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 57 new projects in the Food and Beverage sector.
The following are selected highlights on new Food and Beverage industry construction news.
Food and Beverage Project Type
Processing Facilities – 35 New Projects
Distribution and Industrial Warehouse – 29 New Projects
Food and Beverage Project Scope/Activity
New Construction – 19 New Projects
Expansion – 17 New Projects
Renovations/Equipment Upgrades – 28 New Projects
Plant Closing – 4 New Projects
Food and Beverage Project Location (Top 10 States)
New York – 6
North Carolina – 5
California – 4
Ohio – 4
Georgia – 3
Wisconsin – 3
Alabama – 2
Idaho – 2
Indiana – 2
Maine – 2
Largest Planned Project
During the month of May, 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 Kikkoman Foods, who is planning to invest $800 million for the construction of a processing, warehouse, and office facility in JEFFERSON, WI. The project includes the expansion and equipment upgrades of their existing plant in WALWORTH, WI. They are currently seeking approval for the project.
Top 10 Tracked Food and Beverage Projects
WISCONSIN:
Pet food mfr. is planning to invest $195 million for a 35,000 sf expansion and equipment upgrades on their processing facility in JEFFERSON, WI. They have recently received approval for the project.
OHIO:
Snack food mfr. is planning to invest $106 million for the renovation and equipment upgrades on a processing facility at 4100 Springboro Pike in MORAINE, OH. They are currently seeking approval for the project. Construction is expected to start in Fall 2024.
INDIANA:
Nutritional supplement mfr. is planning to invest $60 million for the renovation and equipment upgrades on a 200,000 sf processing facility at 301 Salem Rd. in JEFFERSONVILLE, IN. They have recently received approval for the project. They will relocate their operations upon completion in 2025.
NEW YORK:
Beverage company is planning to invest $41 million for the expansion of their manufacturing and warehouse facility in CICERO, NY by 100,000 sf. They are currently seeking approval for the project.
BRITISH COLUMBIA:
Specialty dairy product mfr. is planning to invest $25 million for the expansion of their processing facility in ABBOTSFORD, BC. They have recently received approval for the project. Construction is expected to start in Summer 2024.
LOUISIANA:
Food products distributor is planning for the renovation and equipment upgrades on a recently acquired 252,000 sf distribution and office facility in HAMMOND, LA. Completion is slated for late 2024.
CALIFORNIA:
Food service distributor is planning for the renovation and equipment upgrades on a 117,000 sf cold storage warehouse and processing facility in VERNON, CA. They are currently seeking approval for the project. Completion is slated for late 2024.
NEW JERSEY:
Food processing company is planning for the renovation and equipment upgrades on a recently leased 59,000 sf processing and warehouse facility at 74 Kenny Place in SADDLE BROOK, NJ.
NORTH CAROLINA:
Specialty beverage mfr. is planning for the renovation and equipment upgrades on a recently leased 52,000 sf processing and warehouse facility at 715 Greenfield St. in WILMINGTON, NC. Completion is slated for early Fall 2024.
TENNESSEE:
Meat product mfr. is planning for the expansion of their processing facility in KODAK, TN by 50,000 sf. They are currently seeking approval for the project. Completion is slated for late 2025.
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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