Capital/MRO Project Starts for 4Q07 Jumps 135% to $2.6 Billion in Northeast

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Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--In terms of industrial project starts, the Northeast region is poised for a strong fourth quarter this year. Encompassing New York, New Jersey, Pennsylvania and Delaware, the region is forecast to begin construction on 117 capital/MRO (maintenance) projects carrying a total investment value (TIV) of $2.6 billion. This represents an increase of 135% over the same quarter last year. Last year, the region began 32 projects during the fourth quarter that weighed in with a TIV of $1.1 billion. Based on a recent analysis of Industrial Info's PECWEB Direct, the projects scheduled to begin before the end of the year carry an average TIV of $22 million, representing a 25% decrease from the 4Q06 average of $34 million.

Click on the Image at right to view a breakdown of 4Q07 Northeast Region Industrial Project Spending Analysis Chart.

New York retains its year long run as the clear state of choice for project investment, with $1.5 billion worth of fourth quarter capital/MRO investment. The state’s 47 projects carry an average TIV of $32 million. Pennsylvania pushed ahead of New Jersey to claim second place, both in terms of spending and number of projects. The state earned its ranking with its 39 projects toting a TIV of $709 million. New Jersey has a respectable 25 projects worth a $341 million TIV. Even tiny Delaware is on the boards with $15 million being invested into six projects.

The power sector leads the region for fourth-quarter spending, with its $648 million TIV. The 21 power projects are worth an average TIV of $31 million. One of the larger power projects set to begin construction in the quarter is Community Energy Incorporated’s (Wayne, Pennsylvania) $180 million grassroot 130-150 MW Windfarm in Jordanville, New York. The industrial manufacturing group is first in terms of the number of projects, with $308 million being invested into 27 projects, resulting in an average TIV of $11.4 million. The remainder of the 4Q investment is spread among all of the major industry groups, including Pharmaceutical-Biotech with TIV of $292 million being spent on 12 projects. ( Pharmaceutical Tracker - Online Database)

The reported currently active projects include everything from the construction of grassroot plants to general upgrades and maintenance. Subscription to Industrial Info Resources’ Northeast Region Online Plant Directory, with provide access to these new plants that will join the over 3,000 operational industrial plants located in the region. The region represents a wide variety of industrial plants, with the Food & Beverage Industry and Industrial Manufacturing plants responsible for over 1,200 locations. Others with a presence in the region include approximately 500 chemical plants, 40 major petroleum refineries, 130 bulk storage terminals, and 300 power-generating stations.

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