Southwest Region of the U.S. Suffers Fewer Project Cancellations than in 2007

SUGAR LAND--August 1, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--The level of spending in the United States' Southwest market region is often used as a barometer for the health of industrial spending elsewhere in North America. The region consists of Texas, Arkansas, Oklahoma and Louisiana and is home to the country's most concentrated number of oil, gas, refining and chemical industries, employing more than 84,000 people. Based on capital and maintenance project spending identified in Industrial Info's North American Project Database, the region is on track to realize investments totaling an estimated $48 billion this year. This is after accounting for a nearly 24% project fallout, consisting of projects that have been canceled or indefinitely put on hold. At the same time last year, the region was experiencing a project fallout level of nearly 31%.