New England Heats Up for Fall with $1.7 Billion in Capital Project Starts

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Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas). The New England region draws thousands of tourists to the area annually with its blazing display of autumn color. The region continues to prove equally adept at successfully attracting new industry spending. A recent survey of the active project database found on Industrial Info’s’ PECWEB Direct has revealed that capital projects carrying a total investment value (TIV) of $1.7 billion are scheduled to kick off in New England during the final three months of 2006. New England lays claim to the states of Connecticut, Massachusetts, Maine, Vermont, New Hampshire, and Rhode Island.

Click on the image at right to view a chart showing the breakdown of spending by market region

Of all the New England states, traditional spending leader, Massachusetts continues to edge ahead of the rest for the fourth quarter in terms of both TIV and the number of projects scheduled to begin construction. The Bay State has sixteen projects representing a combined TIV of over $1.2 billion are on the books. The Pharmaceutical-Biotech Industry provided the largest component behind this quarter’s lead with the massive Bristol-Myers Squibb project poised to begin in Devens, Massachusetts. After a fierce competition from sites across the nation, Massachusetts emerged the victor for the new biologics facility that could eventually reach a TIV of $1.1 billion.

Connecticut slipped into second place for the quarter with fifteen projects, carrying a respectable, albeit much lower, combined TIV of $330 million. A wide variation of smaller projects account for the project activity, ranging from a $1 million annual wire plant maintenance turnaround in New Britain to a grassroot 619-megawatt (MW) power plant in Middleton. The remainder of the project spending is spread throughout Maine, New Hampshire and Rhode Island, with Vermont being the only state currently not anticipating any fourth quarter project starts.

The projects are sourced from a variety of industry groups. Currently, Power, Chemical, Metals & Minerals, Food & Beverage, Industrial Manufacturing and the Pharmaceutical-Biotech Industries all have activity in New England for the fourth quarter. Industrial Info's New England Online Plant Directory will lead you directly to the more than 1,600 existing operational plants hosting these projects, as well as new ones as they come online. Companies spend millions of dollars to establish, expand, maintain and upgrade these facilities. Coverage includes over 3,200 key contacts and exact location information for plants in the states of Connecticut, Massachusetts, Maine, Vermont, New Hampshire and Rhode Island. Regular updating keeps the directory content timely, while the advanced mapping features will deliver you directly to your targeted plants.

To test drive a demo of the New England Online Plant Directory, click the image at right.

Industrial Info Resources (IIR) is a Marketing Information Service company that has been doing business for over 23 years. IIR is respected as the leader in providing comprehensive market intelligence pertaining to the industrial processing, heavy manufacturing, and energy-related industries throughout the world.