Florida Develops $37 Billion in Industrial Projects

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Industrial Info Resources (Sugar Land, Texas) is tracking 316 major industrial projects, totaling almost $37 billion, in the state of Florida. These are projects that are actively being pursued by the companies developing them, including projects in the planning, engineering and under-construction stages. This figure does not include projects that are on-hold or have been cancelled.

Click on the image at right to view a chart showing the breakdown of Florida projects by major PEC activity.

By value, about 12% of the projects in Florida are currently under construction. This includes 47 projects totaling $4.3 billion. For example, Buckeye Technologies Incorporated (Perry, Florida) has resumed construction on a $45 million power plant expansion at a kraft pulp mill Perry, Florida.

Most of the projects, about 74% by value, are in the planning stages, with 72 projects totaling $4.4 billion in the early planning stages, and 35 projects totaling $22.9 billion in the advanced planning stages. Projects in the early planning stages include those projects undergoing scoping, design and economic evaluation. Advanced planning stage projects include those in the permitting stage or projects waiting for corporate approval to move forward. Another 13% are in the advanced engineering stage, meaning they have progressed past permitting and the corporate approval stages, but have not started construction yet. There are 30 projects, totaling $4.8 billion, in the advanced engineering stage.

Overwhelmingly, industrial project activity is focused on energy related industries, including Power Generation, Oil & Gas Transmission and Alternative Fuels. In fact, there are 98 projects totaling $29.8 billion in the Power Industry alone. Zachry Engineering Corporation (Amarillo, Texas) is involved with two billion-dollar projects in Florida. Both projects are modernizations of natural gas-fired power plants. Florida Power & Light Company is replacing oil fired generation with natural gas at its Riviera Beach Power Station and Cape Canaveral Power Station.

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Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. IIR'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.