Florida Industrial Manufacturing Sector Plans to Start Construction on Over $1.5 Billion During the Second Half of 2004

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). By continuously monitoring and reverifying project spending plans of industrial plant owners, and measuring the percentage change in project fallout, otherwise known as Gap Measurement, Industrialinfo.com presents an up-to-date accounting of the state of Florida’s capital spending plans for the remainder of the year. From an initial set of 35 projects, representing close to $2.8 billion in TIV, nine of those projects, representing $1.3 billion were cancelled, delayed, or put on hold, leaving twenty-six active projects, representing $1.5 billion still scheduled for kick off during the remainder of the year.

Click on the image to the right to view the Florida Industrial Projects Gap Measurement Chart for the Second Half of 2004.

Of the cancellations that occurred, $950 million in potential investments came from three grassroots plants, two of which were 600 megawatt power plants proposed by El Paso Merchant Energy, and one of which was a new Liquid Natural Gas (LNG) receiving terminal planned by BP in Tampa. Projects that have been placed on indefinite hold include a 500 megawatt merchant power plant being proposed by Okeechobee Generating Company LLC (PG &E Parent) in Okeechobee.

Click on the image at right to view the Pie Chart.

Industrial construction starts in Florida, for the second half of 2004 have an estimated value of $1.5 billion. Industrialinfo.com has identified twenty-six active projects that will enter the construction phase during July-December and range in value from $1.5 million up to $700 million. Nine grassroot construction projects will account for $507.3 million, while construction in plants that are already in operation represents $1.01 billion.

Construction starts for the third quarter carry a value of $137 million over twelve projects. Initial projections of $560 million, tumbled as a result of project cancellations and delays. On the brighter side, a $45 million environmental project at a power plant is the largest project slated for the period, followed by $35 million grassroot aircraft manufacturing plant.

Fourth quarter's estimate of $1.1 billion is comprised of fourteen projects, including a $700 million project to add 1,100MW to an existing power plant.

The largest grassroot project for the period is a $200 million biotech facility that will commence construction in October.

Click on the attachment at the right to view a complete list of twenty-six active projects including the owner name, project value, kick-off month, and completion.

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