North American Food & Beverage Industry First Quarter Expenditures Show Robust $2.2 Billion

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Researched by Industrial Info Resources (Sugar Land, Texas)--Food and beverage manufacturers and distributors across North America are in the middle of a spending spree to build facilities and expansions, and are scheduling maintenance for existing operations. Industrial Info has identified more than 150 capital and maintenance projects that are scheduled to begin construction in the first quarter of this year that have a combined total investment value of more than $2.2 billion. Individual projects range in value from $500,000 to $300 million.

Plant owners canceled or placed on-hold 27 capital projects that were slated to begin construction in the first quarter. The estimated value of those projects was $579 million.

Figures broken down by the month show 36 projects worth $349 million for January; 45 projects worth $555 million in February; and 71 projects worth $1.3 billion in March.

From a regional perspective, the Great Lakes market region has the highest project count, with 26 projects valued at $196 million. The Southwest and Rocky Mountains regions round out the top three regions, with 23 and 22 projects, each totaling $212 million and $549 million, respectively.

Planned investments for the quarter include plans to begin construction on 35 grassroots plants and distribution facilities, with an aggregate investment value of $898 million. Projects identified included several distribution centers, grain-handling facilities, a pizza manufacturing plant, and a $100 million facility that will produce Greek yogurt.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.