New York Industries Gear Up for $5 Billion Project Spending in 2005

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). In 2005, there is more than $5 billion worth of potential industrial construction scheduled to kick off in New York state. Spread across 142 separate projects, the most active industries for 2005, from greatest to least, include the Power Industry, with 40 projects; the Industrial Manufacturing Industry, with 30 projects; and the Chemical Processing Industry, with 20 projects. Of the 142 projects, 65% are in the pre-approval planning stage. Fourteen percent have been approved and are in the advanced engineering stages. Twenty-one percent of the projects will involve maintenance repair and overhaul to existing plant equipment.

Click on the image at right to view the 2005 New York Project Spending by Market Zone Map.

As you can see from the attached market zone map, all four of New York's market zones will have significant industrial construction activity. The majority of the work will fall in New York Zone 4, with over $2 billion planned. Zone 4 is home to more than 260 major industrial plants, concentrated on Long Island and mainland counties, such as Orange, Rockland, and Westchester. New York Zone 1, which includes the greater Buffalo area, has a strong showing with 53 projects, worth about $1.3 billion.

Twenty-four projects have total investment value (TIV) of $50 million or greater. Thirty of the projects involve grassroot construction, for the Power Industry, the Oil & Gas Industry, and the Industrial Manufacturing Industry.

Almost 50% of the total investment value (TIV) is planned for power plant construction, including a $300 million grassroot windfarm, a $240 million coal-fired power plant SO2 emissions reduction project, and a $230 million grassroot cogeneration plant, to name a few.

Click on the image at right to view the 2005 New York Project Spending by Industry Chart.

The Oil & Gas Transmission industry is scheduled to be the second largest spending industry in New York for 2005. Right now, there are $920 million in pipeline and compressor station construction planned in New York. This includes the large Millennium natural gas pipeline project, which travels from Ripley to Harrison, New York.

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