Food & Beverage Industry Plans to Start $4.2 Billion in Projects in First Quarter

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Researched by Industrial Info Resources (Sugar Land, Texas)--In the first quarter of 2017, Food and Beverage companies plan to start construction on more than $4.2 billion in capital and maintenance projects at industrial sites in the U.S. and Canada. Industrial Info has identified more than 500 active projects, including grassroot construction, upgrades, modernizations and major maintenance shutdowns, each with a minimum total investment value (TIV) of $500,000 ranging up to $150 million. In contrast, project expenditures for the same period last year showed $3.69 billion from 336 projects.

Projected expenditures for the U.S. show $3.67 billion across 458 projects, while Canadian figures point to $521 million spread over 50 projects.

Food firms will jumpstart construction for the year with 150 projects totaling $1.2 billion in January. Figures for February drop to 108 projects, and the value dips as well, to $900 million. Roughly $2.05 billion, or 47%, of the total for the quarter has a planned construction start date for March.

From a geographic standpoint, the Great Lakes market region will see the most construction activity in terms of value and number of projects, with $831 million and 93 projects.

Click on the image at right to view a breakdown of planned Food and Beverage Industry first-quarter construction starts by market region.

Project owners plan to break ground this quarter on 75 new plants. Altogether, new plant construction for the period has an aggregate spending value of $1.41 billion. Projects include:

• a $110 million pet food manufacturing plant
• a $48 million bakery facility
• a $35 million coffee processing facility
• a $25 million cold storage facility
• a $25 million grain terminal

Over the course of the quarter, plant owners will schedule downtime for maintenance activities, including repairs, overhauls and inspections. Maintenance-related expenditures point to 56 projects for a total of $87 million.

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.