North American Food & Beverage Industry Sees More than $1.2 Billion in New Projects in January 2014

Researched by Industrial Info Resources (Sugar Land, Texas)--Research efforts by Industrial Info uncovered more than $1.2 billion in new project activity in North America's Food & Beverage Industry for January 2014. Individual project values ranged from $500,000 to $100 million, and totaled $1.25 billion. Capital expenditures totaled $1.24 billion from 127 projects, while maintenance expenditures totaled $17 million from 14 projects. In contrast, new project activity for January 2013 resulted in 84 projects with an aggregate investment value of $814 million.

For January, planned investments in the U.S. were approximately $1.1 billion from 125 projects, while Canada had nine projects worth $61 million and Mexico recorded seven projects worth $59 million.

The Midwest and Southwest had the highest project counts among market regions: 35 for a total investment value of $176 million, and 29 that combined for $143 million, respectively. Texas recorded the most projects of any state, with 19 projects for a sum of $119 million.

A total of 116 projects that were worth $977 million were listed in the planning stages, including maintenance shutdowns, while 18 projects in the approval and engineering phase were valued at $181 million. Seven projects totaling $96 million were already under way, and were still open to future opportunities for subcontracting, purchasing equipment and supplies.

Grassroot construction activity reported for January resulted in plans to build 20 new plants for a total of $600 million. Plans include a powdered milk production plant in California and a dairy production plant in Ohio--each with a project expenditure of about $100 million. In New York, a $20 million cold storage facility will start construction this spring, and construction is slated to begin in Pennsylvania this summer on a $60 million poultry processing plant.

Industrial Info's database of active capital and maintenance expenditures in the North American Food & Beverage Industry and the Sugar Processing Industry and Water Desalination Segment worldwide shows current expenditures of $47.7 billion and more than 2,700 active projects. The North American portion comes out to more than 1,700 active projects that total more than $27.8 billion.

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Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, 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.