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Released October 16, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--North Carolina is proving to be a hive of industrial activity, with Industrial Info tracking $23 billion worth of projects under construction in the state. The state is home to several $1 billion+ projects as well as other big-ticket items, with the 10 highest-valued projects accounting for $13.5 billion worth of investment. The Industrial Manufacturing and Pharmaceutical-Biotech industries account for about 85% of the total spend.
North Carolina's manufacturing projects under construction are buoyed by a variety of sectors. That includes semiconductor manufacturing, and Wolfspeed Incorporated's (NYSE:WOLF) (Durham, North Carolina) $2 billion first phase of a grassroot plant in Siler City, in Chatham County, is well underway. The first phase, which is expected to wrap up next year, includes an approximately 400,000-square-foot facility and installing equipment to increase production of 200-millimeter silicon carbide semiconductor wafers that support electric vehicle (EV) production and other applications. The Whiting-Turner Contracting Company (Baltimore, Maryland) is providing general contracting services. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here to read the detailed project report.
EV-related projects are popping up across the country, and North Carolina is no exception. Construction of Toyota Motor Corporation's (NYSE:TM) (Toyota City, Japan) $1.29 billion grassroot EV battery plant in Liberty, also known as Toyota Battery Manufacturing North Carolina (TBMNC), kicked off in 2022.
The 490,000-square-foot facility will feature four production lines with a capacity of 200,000 batteries per line, in order to manufacture 800,000 hybrid and EV lithium-ion battery packs per year--with the ability to ramp up to 1.2 million battery packs per year. Toyota expects production will begin in 2025. Subscribers can click here to read the project report.
Another North Carolina project underway is a $1 billion addition of a fourth runway at Charlotte-Douglas International Airport. The approximately 200-foot-wide and 10,000-foot-long runway with two end-around taxiways will add capacity for more flights and bigger planes at the airport. Click here to read more information on the project, which is expected to wrap up in 2027. According to the N.C. Department of Transportation Division of Aviation, the airport has an annual economic impact of $32 billion and accounts for 5% of state gross product.
In the Pharma-Bio industry, two of the highest-valued projects are components of multinational giant Eli Lilly and Company's (NYSE:LLY) (Indianapolis, Indiana) grassroot plant in the Research Triangle Park area.
The initial phase, which is undergoing final commissioning, includes 12 buildings for the manufacturing and packaging of Eli Lilly's Trulicity and Tirzepatide medications--two drugs that treat Type 2 diabetes. The $650 million Phase II expansion, which is expected to wrap up around the end of the year, will provide additional buildings for further parenteral filling, device assembly and packaging capacity.
Subscribers to the Pharma-Bio GMI Project Database can read more information on the initial and expansion projects.
Meanwhile, the highest-valued project underway in North Carolina is FUJIFILM Diosynth Biotechnologies' (Durham, North Carolina) $3.2 billion end-to-end cell culture biopharmaceutical contract development and manufacturing organization (CDMO) facility in Wake County, known as Project Galaxy. The facility will be equipped for vertically integrated contract production of bulk drug substances, with operations expected to begin in 2025. Jacobs Solutions Incorporated (NYSE:J) (Dallas, Texas) is providing engineering, procurement and construction (EPC) services for the project, which also includes a $1.2 billion expansion aimed at adding two production modules, harvesting capabilities and downstream processing. Subscribers can click here to read detailed information.
Other industries feature in North Carolina's projects under construction, albeit at a lower investment value. Construction of steelmaker Nucor Corporation's (NYSE:NUE) (Charlotte) $350 million rebar micro mill in Lexington is nearly complete; in Nucor's second-quarter earnings call, Chief Executive Officer Leon Topalian said operations will begin ramping up in the first quarter of 2025, "to supply construction markets in the Southeast and mid-Atlantic regions." Click here to read the project report.
In the Power Industry, Apex Clean Energy Incorporated (Charlottesville, Virginia) expects construction of its $250 million Timbermill Windfarm, which is expected to generate 189 megawatts, will wrap up before the end of the year. Subscribers to the Power Project Database can click here to learn more.
Subscribers to Industrial Info's GMI Database can click here to view reports for all of the projects discussed in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
North Carolina's manufacturing projects under construction are buoyed by a variety of sectors. That includes semiconductor manufacturing, and Wolfspeed Incorporated's (NYSE:WOLF) (Durham, North Carolina) $2 billion first phase of a grassroot plant in Siler City, in Chatham County, is well underway. The first phase, which is expected to wrap up next year, includes an approximately 400,000-square-foot facility and installing equipment to increase production of 200-millimeter silicon carbide semiconductor wafers that support electric vehicle (EV) production and other applications. The Whiting-Turner Contracting Company (Baltimore, Maryland) is providing general contracting services. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here to read the detailed project report.
EV-related projects are popping up across the country, and North Carolina is no exception. Construction of Toyota Motor Corporation's (NYSE:TM) (Toyota City, Japan) $1.29 billion grassroot EV battery plant in Liberty, also known as Toyota Battery Manufacturing North Carolina (TBMNC), kicked off in 2022.
The 490,000-square-foot facility will feature four production lines with a capacity of 200,000 batteries per line, in order to manufacture 800,000 hybrid and EV lithium-ion battery packs per year--with the ability to ramp up to 1.2 million battery packs per year. Toyota expects production will begin in 2025. Subscribers can click here to read the project report.
Another North Carolina project underway is a $1 billion addition of a fourth runway at Charlotte-Douglas International Airport. The approximately 200-foot-wide and 10,000-foot-long runway with two end-around taxiways will add capacity for more flights and bigger planes at the airport. Click here to read more information on the project, which is expected to wrap up in 2027. According to the N.C. Department of Transportation Division of Aviation, the airport has an annual economic impact of $32 billion and accounts for 5% of state gross product.
In the Pharma-Bio industry, two of the highest-valued projects are components of multinational giant Eli Lilly and Company's (NYSE:LLY) (Indianapolis, Indiana) grassroot plant in the Research Triangle Park area.
The initial phase, which is undergoing final commissioning, includes 12 buildings for the manufacturing and packaging of Eli Lilly's Trulicity and Tirzepatide medications--two drugs that treat Type 2 diabetes. The $650 million Phase II expansion, which is expected to wrap up around the end of the year, will provide additional buildings for further parenteral filling, device assembly and packaging capacity.
Subscribers to the Pharma-Bio GMI Project Database can read more information on the initial and expansion projects.
Meanwhile, the highest-valued project underway in North Carolina is FUJIFILM Diosynth Biotechnologies' (Durham, North Carolina) $3.2 billion end-to-end cell culture biopharmaceutical contract development and manufacturing organization (CDMO) facility in Wake County, known as Project Galaxy. The facility will be equipped for vertically integrated contract production of bulk drug substances, with operations expected to begin in 2025. Jacobs Solutions Incorporated (NYSE:J) (Dallas, Texas) is providing engineering, procurement and construction (EPC) services for the project, which also includes a $1.2 billion expansion aimed at adding two production modules, harvesting capabilities and downstream processing. Subscribers can click here to read detailed information.
Other industries feature in North Carolina's projects under construction, albeit at a lower investment value. Construction of steelmaker Nucor Corporation's (NYSE:NUE) (Charlotte) $350 million rebar micro mill in Lexington is nearly complete; in Nucor's second-quarter earnings call, Chief Executive Officer Leon Topalian said operations will begin ramping up in the first quarter of 2025, "to supply construction markets in the Southeast and mid-Atlantic regions." Click here to read the project report.
In the Power Industry, Apex Clean Energy Incorporated (Charlottesville, Virginia) expects construction of its $250 million Timbermill Windfarm, which is expected to generate 189 megawatts, will wrap up before the end of the year. Subscribers to the Power Project Database can click here to learn more.
Subscribers to Industrial Info's GMI Database can click here to view reports for all of the projects discussed in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
