Great Lakes Region to Top $30 Billion in Capital and Maintenance Spending in 2005

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). After a highly successful 2004, 2005 appears to be even more promising for the Great Lakes Region, as far as industrial spending is concerned. When it is all said and done, the region should see over $30 billion in industrial capital and maintenance spending in the form of 478 projects by years end.

Once again, the Power Industry will be leading the pack with an amazing $22 billion and 176 projects in proposed spending for this year. The Chemical Processing Industry is a distant second with spending anticipated to exceed $2.3 billion (38 projects). Rounding out the top industries the Pharmaceutical & Biotech Industry at $2 billion (28 projects), the Industrial Manufacturing Industry at $1.4 billion (147 projects), the Metals & Minerals Industry at $1 billion (36 projects) and the Petroleum Refining Industry at $604 million (19 projects).

From a geographical standpoint, Illinois is anticipated to reap the largest benefit from the proposed spending in 2005. Illinois is expected to have played host to over 108 projects worth in excess of $7.3 billion by years end. Ohio should be second with 93 projects worth over $6.3 billion, followed by Michigan at 74 projects worth $5.8 billion, Kentucky at 61 projects worth $5.5 billion, Wisconsin with 69 projects worth $3.1 billion and Indiana with 73 projects worth $1.9 billion.

Click on the thumbnail at right to view the 2005 Great Lakes Region Capital Spending by State Chart.

Currently, the spending is, for the most part, revolving around projects in the planning stages of development. Of the $30 billion that will be spent, $5.9 billion (48 projects) is for approved projects that are nearing construction, $23.9 billion (345 projects) is tied to projects in the planning stages and $324.8 million (85 projects) will be spent on maintenance projects.

All in all, 2005 should be a very successful and profitable year for he Great Lakes region. By years end, the numbers should have increased in terms of both projects and dollars spent, however, only time will tell.

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