Released August 21, 2020 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Jobless Americans are caught in a bind as COVID-19 continues its merciless journey: U.S. claims for unemployment benefits were back above 1 million last week, with overall unemployment substantially rising in seven states: California, Indiana, Kansas, Mississippi, Nevada, New Mexico and Wyoming, according to research from The Pew Charitable Trusts. California's woes are not new, but problems in the other six states have been largely overshadowed by their more heavily populated peers. Industrial Info is tracking about $8.2 billion worth of projects in these six states that have been delayed or otherwise affected by COVID-19 precautions.
Click on the image at right for a graph detailing the total investment values, by industrial sector, for projects in Indiana, Kansas, Mississippi, Nevada, New Mexico and Wyoming to face pandemic-related delays.
The Metals & Minerals Industry accounts for more spending to be affected by COVID-19 precautions than any other industry in these six states, with Silver Elephant Mining Corporation's (TSX:ELEF) (Vancouver, British Columbia) estimated $116.8 million grassroot vanadium mine and heap leach process facility in Eureka, Nevada, among the most notable individual projects to face setbacks. It is one of only two projects in the U.S. geared toward the extraction of vanadium, a metal used in airplanes, ballistic missiles, pipelines and many other applications. Construction of the 3.4 million-ton-per-year open-pit mine, which is designed to extract 9.64 million pounds per year of vanadium pentoxide, had been set to begin in April, but will not start until the summer of 2021 at the earliest. For more information, see Industrial Info's project report.
One of the single highest-valued projects in the six states to be delayed for more than a year is Lehigh Hanson Incorporated's (Irving, Texas) estimated $600 million cement plant expansion and modernization in Mitchell, Indiana. The company, a subsidiary of HeidelbergCement AG (Heidelberg, Germany), planned to replace three outdated rotary kiln lines and increase production at the facility from 780,000 to 2.8 million tons per year. Originally set to kick off in February, construction will not begin until May 2021 at the earliest. For more information, see Industrial Info's project report.
Renewable energy-generation projects have become increasingly popular in Western states, but many of the generation projects in states like Nevada, New Mexico and Wyoming to face delays are for windfarms and solar-power plants. Black Hills Corporation (NYSE:BKH) (Rapid City, South Dakota) is among the more fortunate companies: Construction on its $79 million Corriedale Windfarm in Cheyenne, Wyoming, was pushed back just two months, from August to October, with site preparation underway. The facility is expected to generate 52.5 megawatts (MW) from 21 General Electric (NYSE:GE) turbines. For more information, see Industrial Info's project report.
So far, New Mexico is the only state of the six to be approved for an extra $300 a week in federal unemployment benefits. Many state governments have been scrambling to shore up benefits after a $600-a-week federal subsidy enacted by the U.S. Congress early in the pandemic recently ended. One of New Mexico's largest renewable-energy projects to be thrown into doubt is the Jicarilla Apache Nation Power Authority's (JANPA) Jicarilla Apache Solar Plant in Dulce, New Mexico, which would have been built in two phases, each generating 50 MW. The $60 million Phase I had its kickoff delayed a full year to May 2022, while the impact on the $60 million Phase II is not yet clear. For more information, see Industrial Info's project reports on Phase I and Phase II.
Nationwide, the Food & Beverage Industry accounts for a significant portion of project delays so far this summer, two of which can be found in Kansas, which is sometimes called "the breadbasket of the world." Tyson Foods Incorporated (NYSE:TSN) (Springdale, Arkansas) began construction on an $8 million spiral freezer addition at its prepared foods plant in Hutchinson, Kansas, in March, just as pandemic-related lockdowns were going into place. The new freezer originally was set to be completed in June, but is now set to wrap up in November. For more information, see Industrial Info's project report.
Scavuzzo's Incorporated (Kansas City, Kansas), on the other hand, recently placed on hold its proposed, estimated $40 million cold-storage distribution center in Kansas City, Kansas, which had been in its early planning phase. The plant was to include 200,000 square feet of refrigerated and dry storage space, and was to begin construction in August; it will not kick off until next August, at the earliest. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
Click on the image at right for a graph detailing the total investment values, by industrial sector, for projects in Indiana, Kansas, Mississippi, Nevada, New Mexico and Wyoming to face pandemic-related delays.The Metals & Minerals Industry accounts for more spending to be affected by COVID-19 precautions than any other industry in these six states, with Silver Elephant Mining Corporation's (TSX:ELEF) (Vancouver, British Columbia) estimated $116.8 million grassroot vanadium mine and heap leach process facility in Eureka, Nevada, among the most notable individual projects to face setbacks. It is one of only two projects in the U.S. geared toward the extraction of vanadium, a metal used in airplanes, ballistic missiles, pipelines and many other applications. Construction of the 3.4 million-ton-per-year open-pit mine, which is designed to extract 9.64 million pounds per year of vanadium pentoxide, had been set to begin in April, but will not start until the summer of 2021 at the earliest. For more information, see Industrial Info's project report.
One of the single highest-valued projects in the six states to be delayed for more than a year is Lehigh Hanson Incorporated's (Irving, Texas) estimated $600 million cement plant expansion and modernization in Mitchell, Indiana. The company, a subsidiary of HeidelbergCement AG (Heidelberg, Germany), planned to replace three outdated rotary kiln lines and increase production at the facility from 780,000 to 2.8 million tons per year. Originally set to kick off in February, construction will not begin until May 2021 at the earliest. For more information, see Industrial Info's project report.
Renewable energy-generation projects have become increasingly popular in Western states, but many of the generation projects in states like Nevada, New Mexico and Wyoming to face delays are for windfarms and solar-power plants. Black Hills Corporation (NYSE:BKH) (Rapid City, South Dakota) is among the more fortunate companies: Construction on its $79 million Corriedale Windfarm in Cheyenne, Wyoming, was pushed back just two months, from August to October, with site preparation underway. The facility is expected to generate 52.5 megawatts (MW) from 21 General Electric (NYSE:GE) turbines. For more information, see Industrial Info's project report.
So far, New Mexico is the only state of the six to be approved for an extra $300 a week in federal unemployment benefits. Many state governments have been scrambling to shore up benefits after a $600-a-week federal subsidy enacted by the U.S. Congress early in the pandemic recently ended. One of New Mexico's largest renewable-energy projects to be thrown into doubt is the Jicarilla Apache Nation Power Authority's (JANPA) Jicarilla Apache Solar Plant in Dulce, New Mexico, which would have been built in two phases, each generating 50 MW. The $60 million Phase I had its kickoff delayed a full year to May 2022, while the impact on the $60 million Phase II is not yet clear. For more information, see Industrial Info's project reports on Phase I and Phase II.
Nationwide, the Food & Beverage Industry accounts for a significant portion of project delays so far this summer, two of which can be found in Kansas, which is sometimes called "the breadbasket of the world." Tyson Foods Incorporated (NYSE:TSN) (Springdale, Arkansas) began construction on an $8 million spiral freezer addition at its prepared foods plant in Hutchinson, Kansas, in March, just as pandemic-related lockdowns were going into place. The new freezer originally was set to be completed in June, but is now set to wrap up in November. For more information, see Industrial Info's project report.
Scavuzzo's Incorporated (Kansas City, Kansas), on the other hand, recently placed on hold its proposed, estimated $40 million cold-storage distribution center in Kansas City, Kansas, which had been in its early planning phase. The plant was to include 200,000 square feet of refrigerated and dry storage space, and was to begin construction in August; it will not kick off until next August, at the earliest. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
