Greater Philadelphia Area Looking at $8.4 Billion in Industrial Project Spending

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Researched by Industrial Info Resources (Sugar Land, Texas). Industrial companies in the greater Philadelphia, Pennsylvania area are planning more than $8.4 billion in new project construction scheduled to begin in 2006 or beyond. Several large-scale projects are being planned, including billion dollar LNG receiving terminals and light rail infrastructure projects. For purposes of this report, the greater Philadelphia area takes into consideration eight counties in Pennsylvania (Bucks, Berks, Chester, Delaware, Philadelphia, Montgomery, Lehigh, and Northampton), and seven counties in New Jersey (Atlantic, Burlington, Cape May, Cumberland, Camden, Gloucester, and Salem).

Click on the image at right to view a chart showing the breakdown of planned projects spending in the Philly area by county.

The top four counties in the Philly area for future industrial spending are Berks County, Pennsylvania, with seventeen projects totaling more than $2 billion; Chester County, Pennsylvania, with sixteen projects totaling $1.3 billion; Gloucester County, New Jersey, with 28 projects totaling $1.2 billion; and Philadelphia County, Pennsylvania, with 34 projects totaling $1.8 billion.

Energy-related projects equaling $2.7 billion account for 32% of the planned future projects, but unlike other parts of the country that are dominated by power generation projects, the greater Philly area has a surprisingly small number of planned Power Industry projects, totaling only $305 million from 22 projects. Energy-related industries garnering a greater share of the area's industrial capital spending plans than the Power Industry include the Oil & Gas Transmission, Terminals, and Petroleum Refining industries. In an attempt to get more natural gas to a hungry Northeast U.S. markets, BP and Philadelphia Gas Works are developing LNG terminal projects. After LNG projects, Petroleum Refiners, like ConocoPhillips and Valero Refining, will spend the most in the area with $774 million planned to invest.

Following a countrywide trend for light rail infrastructure construction, Southeastern Pennsylvania Transportation Authority (SEPTA - Philadelphia, Pennsylvania) is planning more than ten projects totaling more than $3 billion for light/commuter rail system expansions and improvements. See related news articles - Design Firms Awarded Contracts for New Commuter Rail Substation in Pennsylvania, and Light & Commuter Rail Project Spending Still Rocketing Forward Through the Next Three Years.

There are currently fourteen new grassroot industrial facilities under construction in the Philly area. One of the larger projects currently under construction is the new $400 million Pediatric Research Complex for the Children’s Hospital of Philadelphia being constructed by Turner Construction. The new $107 million parcel sorting hub for DHL Americas (Fort Lauderdale, Florida) is nearing completion in Allentown, Pennsylvania, and a new cold storage facility for Preferred Freezer Services in nearing completion in Philadelphia.

Get in touch with the industrial companies and plants that are spending money in the Philly area today. Check out Industrial Info's Northeast Online Plant Directory for key contacts and phone numbers. Click on the image at right to try a free demo of the Northeast Online Plant Directory featuring more than 3,400 major industrial plants. If you require more detailed project spending information contact Industrial Info's Member Center at 1-800-762-3361.

Industrial Info Resources (IIR) is a Marketing Information Service company that has been doing business for over 23 years. IIR is respected as the leader in providing comprehensive market intelligence pertaining to the industrial processing, heavy manufacturing, and energy-related industries throughout the world.