October Recap: North American Food and Beverage 'New' Project Expenditures Up 51% from September

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Researched by Industrial Info Resources (Sugar Land, Texas)--New project activity for the Food & Beverage Industry reported by Industrial Info for October shows a 51% increase in expenditures compared to the previous month. Expenditures for October totaled $1.27 billion from 87 new projects, while September's new project count was the same, with a combined value of $840 million. Capital expenditures tallied 68 projects worth approximately $1.2 billion, while maintenance expenditures were a mere $40 million spread across 19 projects.

Click on the image at right to see a graph of expenditures by market region.

Planned investments in the U.S. were approximately $637 million from 72 projects, while Canada had 11 projects worth $603 million. Mexico had four new projects valued at $32 million.

In terms of grassroot construction projects, there were 16 projects that had a combined value of $679 million. Grassroot construction activity for the previous month was just more than $219 million to build 13 new plants and distribution centers.

New project activity was the highest in the Great Lakes region, with 18 projects valued at $151 million, followed by the Midwest region, with 13 projects worth $125 million. The West Coast had 12 projects valued at $80 million. The remaining regions recorded single-digit project counts. As far as investment value, a $390 million project in Ontario pushed the region to first rank.

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.