Industrial Spending in Ohio on the Rise with over $13 Billion in Active Capital and Maintenance Projects

---

Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). As 2004 came to a close, the state of Ohio was able to look back and reflect on a good year in terms of industrial capital and maintenance spending. For the year, Ohio could proudly claim over $2.6 billion in spending and just over 170 projects completed.

As we take a peek into the future, Ohio has much to boast about. Looking forward from the second quarter of 2005 and beyond, Ohio can lay claim to an additional $13 billion in planned spending and an additional 200 plus projects looming on the horizon, numbers that will only continue to grow as 2005 marches forward.

While not every project that is currently planned will come to fruition, the sheer numbers involved indicate that spending should increase for 2005 and 2006. On the maintenance side of things, Ohio averages just over eighty major maintenance projects each year, typically worth over $200 million. In terms of capital work, there are currently over 120 projects planned for 2005, worth an estimated $4.3 billion. Looking at projects planned for 2006, the spending numbers only continue to grow, with over $7.5 billion in planned spending already on the books.

In addition, a sneak peek into the years 2007 and 2008 show capital spending to be mounting up, with over $800 million in 2007 and almost $600 million in 2008 in the planning stages.

As has been the case in recent years, the Power Industry is anticipated to be leading the spending charge for the next few years. The power industry currently has over $8.5 billion worth of projects in the planning stages for the state, by far its biggest spender.

Click on the image at right to view the Ohio Industrial Projects Under Development by Industry Chart.

Some other industries with planned spending of note are the Chemical Processing Industry ($1.7 billion), the Industrial Manufacturing Industry ($900 million), the Refining Industry ($800 million), and the Pharmaceutical-Biotech Industry ($700 million).

When all is said and done, a myriad of factors will adjust the aforementioned numbers as the years roll by. From environmental issues to governmental incentives, to political wrangling, to the general state of the economy, many things can affect currently planned spending, either to its benefit or its detriment. Only time will tell how the numbers will finally shake out, but from all early indications, the state of Ohio is in for a very rosy future, as industry should continue to infuse money and jobs into the state for years to come.

For more information on the state of Ohio and any other of the Great Lakes states, take a look at Industrialinfo.com's Great Lakes Online Plant Directory. This database provides a detailed look into the operational plants in the states of Ohio, Michigan, Illinois, Indiana, Kentucky, and Wisconsin. Each plant in the database comes with physical and mailing addresses, phone and fax numbers, SIC codes, employee counts, two unique contacts, union status, corporate information, and additional plant details.

Industrialinfo.com is the leading provider of global industrial market research. We specialize in helping companies develop information solutions to maximize their sales and marketing efforts.