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Released September 01, 2021 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Brownfield projects and investments have multiple definitions, but in general, they involve building something new on a previously used industrial site.
"At times, this approach may be preferable, as the structure already stands. Not only can it result in cost savings for the investing business, it can also avoid certain steps that are required in order to build new facilities on empty lots, such as building permits and connecting utilities," according to Investopedia. However, such sites can carry the risk of environmental contamination as a result of prior activities.
Industrial info is tracking more than $16.8 billion worth of brownfield projects that are under construction in the U.S., with the spending led by Industrial Manufacturing, followed by the Pharmaceutical & Biotech Industry.
Click on the image at right for a graph showing U.S. brownfield project activity under construction, by industry.
One of the priciest of such projects under construction is Tesla Incorporated's (NASDAQ:TLSA) (Palo, Alto, California) Cybertruck Gigafactory Manufacturing Plant in Austin, Texas. Located on the site of a concrete, sand and gravel facility, the project involves the construction of a 7.9 million-square-foot factory and installation of equipment to manufacture the Cybertruck, semi-truck and to support the production of the models 3 and Y electric cars. Construction kicked off in late 2020, with completion planned for the end of this year. However, production of the Cybertruck won't begin until 2022, according to Tesla's website. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a detailed report.
In the Pharmaceutical & Biotech arena, construction of MLP Ventures Group LLC's (Radnor, Pennsylvania) King of Prussia, Pennsylvania, brownfield Multi-Phase Plasmid DNA, Viral Vector and Cell Banking Contract Development and Manufacturing Organization (CDMO) Plant is planned for completion in 2022. The project involves the renovation of 680,000 square feet of space at a former GlaxoSmithKline (Brentford, U.K.) facility and includes a multitude of viral vector production suites, plasmid suites, universal cell processing suites and related facilities. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pharmaceutical & Biotech Project Database can click here for a detailed 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.
"At times, this approach may be preferable, as the structure already stands. Not only can it result in cost savings for the investing business, it can also avoid certain steps that are required in order to build new facilities on empty lots, such as building permits and connecting utilities," according to Investopedia. However, such sites can carry the risk of environmental contamination as a result of prior activities.
Industrial info is tracking more than $16.8 billion worth of brownfield projects that are under construction in the U.S., with the spending led by Industrial Manufacturing, followed by the Pharmaceutical & Biotech Industry.
One of the priciest of such projects under construction is Tesla Incorporated's (NASDAQ:TLSA) (Palo, Alto, California) Cybertruck Gigafactory Manufacturing Plant in Austin, Texas. Located on the site of a concrete, sand and gravel facility, the project involves the construction of a 7.9 million-square-foot factory and installation of equipment to manufacture the Cybertruck, semi-truck and to support the production of the models 3 and Y electric cars. Construction kicked off in late 2020, with completion planned for the end of this year. However, production of the Cybertruck won't begin until 2022, according to Tesla's website. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a detailed report.
In the Pharmaceutical & Biotech arena, construction of MLP Ventures Group LLC's (Radnor, Pennsylvania) King of Prussia, Pennsylvania, brownfield Multi-Phase Plasmid DNA, Viral Vector and Cell Banking Contract Development and Manufacturing Organization (CDMO) Plant is planned for completion in 2022. The project involves the renovation of 680,000 square feet of space at a former GlaxoSmithKline (Brentford, U.K.) facility and includes a multitude of viral vector production suites, plasmid suites, universal cell processing suites and related facilities. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pharmaceutical & Biotech Project Database can click here for a detailed 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.
