New England Snapshot: Increase of 90% Over 2006 Soaring to $9.1 Billion in Reported Industrial Capital/MRO Project Starts for 2007

---

Researched by Industrial Info Resources (Sugar Land, Texas). The New England region is facing 2007 with a huge increase in reported project spending over last year. Every state in the region, which includes Connecticut, Maine, Massachusetts, Rhode Island and Vermont, is forecast for new project activity in 2007. A recent analysis of Industrial Info’s Industrial Manufacturing Industry Coverage has revealed a total of 161 currently active capital and MRO (maintenance) projects scheduled to begin in the next twelve months. The cumulative total investment value (TIV) of the 2007 projects is $9.1 billion. This demonstrates a 90% increase over the reported projects scheduled to begin in 2006 with its reported total TIV of $4.8 billion spread over 139 individual projects.

Click on the image at right to view a chart showing the breakdown of planned project spending in New England in 2007.

In addition to experiencing an increase in the total number of projects to 161 for 2007 from the 139 reported in 2006, the average TIV of each also increased to $56 million from $34.5 million. These projects include everything from the construction of grassroot plants to general upgrades and maintenance. Industrial Info Resources’ New England Online Plant Directory will lead you directly to the nearly 1,700 existing operational plants in the region, as well as the new ones as they become operational. Coverage includes over 3,200 key contacts and exact location information for each operational site.

Massachusetts continues to be the definite leader in the region in 2007, both in terms of spending and the number of project starts, with a total TIV of $5.2 billion spread over 64 scheduled projects. This demonstrates an impressive 108% increase in project TIV over the $2.7 billion reported for 2006, with an 8% increase in the number of projects from last year’s total of 59 for the state.

In terms of individual industry groups, the Power sector is the region’s clear leader, with a total TIV of $3.5 billion spread over 47 individual projects scheduled to kick off this year. Currently, the largest power project scheduled to begin this year is the Connecticut Light & Power Company’s $700 million grassroot substation in New Haven, Connecticut. This is a change from 2006, when the Pharmaceutical-Biotech Industry led with $2.9 billion in TIV sourced out of eighteen projects. The majority of that spending was for a result of the late 2006 kick off of the massive Bristol-Myers Squibb project 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.

For more information on industrial plants in New England, check out Industrial Info's New England Online Plant Directory. Click on the image at right to try out a free demo.

View Plant Profile - 1066413 1068723
View Project Report - 35000834 35000834

Industrial Info Resources (IIR) is a Marketing Information Service company that has been doing business for over 24 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.