Florida Holds $2.47 Billion in Project Kickoffs in Second-Quarter 2016

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Researched by Industrial Info Resources (Sugar Land, Texas)--The Sunshine State is home to 76 project construction kickoffs for the second quarter of this year valued at nearly $2.5 billion, according to Industrial Info's database. The Oil & Gas Pipelines Industry is leading the way in project spending, followed by Industrial Manufacturing Industry and Power.

Click on the image at right to view a chart showing the breakdown of projects in Florida by industry

The Oil and Gas Pipeline Industry has 11 projects kicking off in the second quarter worth $885 million. The largest is Phase I of the Sabal Trail Grassroot Natural Gas Pipeline in Lake City. The $175 million project is part of the Sabal Trail Expansion project from Alabama to California and covers Spread 4 and 5 of the Florida portion. It involves installing 98 miles of transmission pipeline, which is designed to transport natural gas from Hamilton, Florida (near the Florida/Alabama border) to Morriston County, Florida. A joint venture between Spectra Energy Corporation (NYSE:SE) (Houston, Texas) and NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida) owns the project. Currently in the engineering stage, it is expected to be completed in June of next year.

Industrial Manufacturing is responsible for 12 projects kicking off for the second quarter, with a total investment value of $588 million. The biggest project is the second phase of the Orlando Sunrail Commuter Rail Transit Corridor, which is owned by the Florida Department of Transportation. This project, currently in the engineering stage, is part of a 30-mile commuter rail system expansion, and involves constructing 17.2 miles of rail with four stations, as part of the South segment. It is awaiting full funding for a 12-mile/one station North segment. This $258 million project is slated for completion in February 2018. It should be noted that the timing of large transit projects such as this one is subject to the vagaries of public funding.

The Power Industry, with eight projects worth $531 million, comes out in third place. The biggest project a grassroot biomass-fired power station in Fort Meade. Owned by US EcoGen LLC (Potomac, Maryland), the $250 million facility will consist of a 60-megawatt (MW) turbine generator set for the purpose of providing renewable energy for the local grid. It is expected to be completed in November 2018.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 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/.