More than $1 Billion in New Project Spending Reported in February for North American Food and Beverage Industry

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Researched by Industrial Info Resources (Sugar Land, Texas)--The Food and Beverage Industry in North America recorded $1.09 billion in new project activity at manufacturing sites and distribution facilities in February, according to data from Industrial Info. Research efforts uncovered 113 capital and maintenance projects with individual investment values ranging from $1 million to $80 million. Capital expenditures tallied up to approximately $1.07 billion, while maintenance expenditures came in at $24 million spread across 21 projects. In contrast to 2013, new project coverage for February 2012 posted figures of 76 projects, with a combined investment value of $517 million.

The U.S. has approximately $848 million in planned investments from 88 projects, while Mexico has 19 projects worth $174 million and Canada has six projects worth $66 million.

The highest new project count is in the Great Lakes region, with 26 projects valued at $218 million, followed by Mexico, with 19 projects worth $174 million. The Midwest region rounds out the top three, with 13 projects worth $36 million.

A total of 74 projects worth $693 million are listed as being in the planning stages, while 15 worth $252 million are in the approval and engineering phase. There are three projects in which construction is under way but are still open to future opportunities for subcontracting, purchasing equipment and supplies.

Grassroot construction activity reported for February shows plans to build 12 new plants, with the largest being a 90,000-square-foot yogurt manufacturing facility in Arizona estimated at $80 million. The aggregate investment value of grassroot construction activity was $420 million.

Industrial Info's database of active capital and maintenance expenditures in the North American Food and Beverage Industry and the worldwide sugar processing industry and water desalination segment is tracking current expenditures of $40.5 billion and more than 1,850 active projects. The North American portion comes out to more than 1,100 active projects that total more than $22 billion.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, 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.