New Jersey Cooking with Gas in 2012 with $2 Billion in Industrial Project Starts

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Researched by Industrial Info Resources (Sugar Land, Texas)--New Jersey leads the states in the U.S. Northeast region for the value of industrial project construction starts in 2012. In the Northeast, industrial construction is typically dominated by New York and Pennsylvania, but not this year. Construction has begun on 43 projects in New Jersey totaling slightly more than $2 billion. New York ranks second in the Northeast, with 64 projects totaling $1.5 billion having started construction. Pennsylvania is third, with 86 projects totaling $1.1 billion. In addition to New Jersey, New York and Pennsylvania, the Northeast Region also includes Delaware.

Click on the image at right to view a chart showing the breakdown of construction starts by state in the Northeast Region.

In the Power Industry low natural gas prices have led to an explosion of natural gas-fired power plant construction in the U.S. New Jersey is fully embracing this trend. Site preparation began last month on a 625-megawatt combined-cycle power plant for West Deptford Energy LLC (East Brunswick, New Jersey), a subsidiary of privately held LS Power Group. Originally conceived as a 1,000-megawatt power plant in 2007, the $750 million project is being engineered by CH2M Hill (Englewood, Colorado). Construction will ramp up this year and is expected to reach peak construction in early 2013. The plant is scheduled to be operational by October 2014. A second unit is also planned.

In New Jersey, natural gas-fired power plants are being planned by Hess Corporation (NYSE:HES), SCS Energy LLC and New Jersey Power Development.

In addition to the $2 billion in industrial projects that started construction during the first quarter of 2012 in New Jersey, industrial firms are developing 132 projects scheduled to begin construction during the second quarter of 2012 and beyond. These projects total $19 billion.

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