More Than $13 Billion in Project Spending to Kick Off in Midwest from Now Until Year’s End

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Researched by Industrial Info Resources (Sugar Land, Texas)--Project spending for the Midwest region from January through August has been robust with 441 projects valued at $19.7 billion. This total figure includes 354 capital projects representing $19.4 billion and 87 maintenance projects valued at $279 million.

The majority of dollars for projects this year are occurring in Minnesota with more than $5 billion, followed by Iowa with more than $4.3 billion and Nebraska with $3 billion. Healthy spending for project kickoffs have also occurred in Kansas with more than $2.7 billion, Missouri with more than $2.3 billion, North Dakota with more than $1.2 billion and finally South Dakota at $967 million. The top three industry groups for the region in terms of project spending to date have been the Alternative Fuels Industry with $7.8 billion, the Power Industry with more than $3.7 billion and the Industrial Manufacturing industry with more than $2.4 billion kicking off so far this year.

Several projects have been placed on hold or canceled during the year. So far, 64 projects valued at more than $3 billion have either been canceled or placed on hold. Year to date, the power industry leads this category with 17 projects valued at $2.1 billion. The Alternative Fuels Industry has canceled or put on hold five projects valued at $705 million while the Metals & Minerals Industry has seen eight projects representing $678 million face a similar fate.

For the remainder of the year, project-spending for the Midwest region appears to be active with 196 capital and maintenance projects valued at more than $13 billion scheduled to kick off between September and the end of the year.

CLICK HERE FOR TABLE SHOWING TOTAL INVESTMENT VALUE SCHEDULED TO KICK OFF BY STATE

Projects yet to kick off this year include 155 capital projects valued at more than $13 billion and 41 maintenance projects estimated at $112 million. Some of the projects still expected to start this year include Horizon Wind Energy (Houston, Texas), Meridian Way Windfarm in Kansas, Boothel Agri-Energy LLC’s (Sikeston, Missouri) Fuel Ethanol Plant in Missouri and Coloplast North America’s Medical Device Plant Expansion in Minnesota.

Despite some project cancellations and delays, 2007 appears to be a healthy year for the Midwest in terms of capital and maintenance project spending.

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