Iowa Revs Up $1.2 Billion in Industrial Projects Led by the Food & Beverage Industry

---

According to a survey of Industrialinfo.com's (Industrial Information Resources, Incorporated; Houston, Texas) North American Industrial Database, Iowa has 77 industrial projects worth $1.2 billion scheduled to begin construction in 2005. The Food & Beverage Industry leads all twelve industries in planned project spending in 2005, commanding one third of the total investment value (TIV) for the state, with sixteen projects worth more than $400 million.

Click on the image at right to view a chart of project spending by industry in the state of Iowa.

The largest project being developed, which could begin construction this year is a $250 million coal-fired cogeneration plant by Archer Daniels Midland Company (NYSE:ADM) (Decatur, Illinois) at one of its corn mills in the state. ADM is currently in the process of constructing a new $50 million yeast plant, Red Star Yeast LLC, with joint venture partner Lesaffre et Compagnie (Lille, France) adjacent to its corn processing plant in Cedar Rapids, Iowa. That plant should be up and operating by Spring 2005. For details on Red Star Yeast LLC see March 12, 2004 news article - ADM and Lesaffre Announce Joint Venture to Construct Yeast Plant in Iowa

Other Food & Beverage Industry projects in Iowa include a new $33 million grassroot soy processing plant and a new headquarters/research & development facility for Wells Dairy Incorporated to be built in Le Mars, Iowa.

The Pharmaceutical & Biotech Industry is second in Iowa, with $282 million in planned project spending for 2005. One of the larger projects is a $178 million modernization of the USDA's Veterinary Research & Development lab in Ames, Iowa.

Iowa is home to 634 major operational industrial plants. Contacts, addresses, and phone numbers to these plants can be accessed via Industrialinfo.com’s Midwest Region Online Plant Directory.

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.