Florida Leads U.S. Southeast with $53 Billion in Industrial Projects

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Researched by Industrial Info Resources (Sugar Land, Texas)--Accounting for about one third of the value of active industrial projects in the U.S. Southeast, Florida is the region's leading state for industrial project activity with 341 projects totaling $53 billion, according to Industrial Info's North American Plant Database.

Click on the image at right to view a chart showing the breakdown of active industrial projects in the Southeast region.

Industrial Info's database takes into account capital and maintenance expenditures across 12 vertical industries, including Power Generation, Terminals (Oil & Gas), Transmission (Oil & Gas), Production (Oil & Gas), Alternative Fuels, Petroleum Refining, Chemical Processing, Metals & Minerals, Pulp & Paper, Food & Beverage, Industrial Manufacturing and Pharmaceutical-Biotech.

The U.S. Southeast region includes states of Alabama, Florida, Georgia, Mississippi and Tennessee, as well as Puerto Rico and the Virgin Islands.

Inexpensive natural gas is driving a number of new power plant construction projects in Florida. Earlier this year, Florida Power & Light (Juno Beach, Florida), a subsidiary of NextEra Energy Incorporated (NYSE:NEE), began commercial operations at the Cape Canaveral Next Generation Clean Energy Center in Cocoa, Florida, a $1.1 billion, combined-cycle power generation station that will produce 1,250 megawatts. It replaces an oil-burning plant that was torn down in 2010. The Cape Canaveral project is one of three similar projects that Florida Power & Light is developing in the state.

The company is also planning construction of a natural gas transmission pipeline to bring needed natural gas to Florida. The state's two existing pipelines are near capacity. All in all, Florida Power & Light has more than $12 billion worth of projects under development in the state.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, 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.