JACKSONVILLE BEACH, Fla., Oct. 24, 2023 (SEND2PRESS NEWSWIRE) — SalesLeads announced today the September 2023 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 73 new projects as compared to 77 in August in the Food and Beverage sector.
Image Caption: September 2023 results for the new planned capital project spending report for the Food and Beverage industry.
The following are selected highlights on new Food and Beverage industry construction news.
Food and Beverage Project Type
Processing Facilities – 50 New Projects
Distribution and Industrial Warehouse – 37 New Projects
Food and Beverage Project Scope/Activity
New Construction – 34 New Projects
Expansion – 13 New Projects
Renovations/Equipment Upgrades – 27 New Projects
Plant Closing – 6 New Projects
Food and Beverage Project Location (Top 10 States)
New York – 7
Indiana – 6
North Carolina – 5
Ontario – 5
Georgia – 4
Illinois – 4
Ohio – 4
Virginia – 4
Minnesota – 3
Texas – 3
Largest Planned Project
During the month of September, 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 Reyes Coca-Cola Bottling, who is planning to invest $500 million for the construction of a 620,000 sf processing and distribution campus at 10670 6th St. in RANCHO CUCAMONGA, CA. Construction is expected to start in 2024.
Top 10 Tracked Food and Beverage Projects
Greenhouse farming company is investing $400 million for the construction of a 400,000 sf growing and processing facility in LORENA, TX. Construction will occur in phases, with completion of phase 1 slated for Fall 2024.
Cultivated meat producer is planning to invest $140 million for the construction of a 187,000 sf processing and laboratory facility in GLENVIEW, IL. They are currently seeking approval for the project.
Specialty food product mfr. is planning to invest $50 million for the renovation and equipment upgrades on an 850,000 sf processing and distribution facility in WINSTON-SALEM, NC. They are currently seeking approval for the project. They will consolidate their operations upon completion in late 2024.
Herbal tea mfr. is planning to invest $30 million for the construction of a 125,000 sf manufacturing facility in ROCKY MOUNT, VA. Construction is expected to start in late 2023.
Beverage distributor is planning for the construction of a 460,000 sf distribution facility at 3535 Blue Cross Rd. in EAGAN, MN. They are currently seeking approval for the project.
Specialty food products mfr. is planning for the expansion of their processing and warehouse facility in LEBANON, IN by 288,000 sf. They have recently received approval for the project. Completion is slated for Summer 2024.
Meat processing company is planning to invest $25 million for the construction of a 52,000 sf processing and warehouse facility at 1201 Hummel Ave. in LEMOYNE, PA. They are currently seeking approval for the project.
Specialty food ingredients mfr. is planning to invest $15 million for a 170,000 sf expansion of their warehouse facility at 4744 Wolf Creek Pike in DAYTON, OH. They are currently seeking approval for the project.
University is planning to invest $13 million for the construction of a food processing complex at 3020 McConnell Rd. in GREENSBORO, NC. They have recently received approval for the project.
Fruit wholesaler is planning for the renovation and equipment upgrades on a recently leased 61,000 sf of warehouse and office space at 1032 W. 43rd St. in CHICAGO, IL. Construction is expected to start in Fall 2023.
About IMI SalesLeads, Inc.:
Since 1959, IMI 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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News Source: IMI SalesLeads Inc