Ohio Evaluates $23 Billion in Industrial Projects for 2009

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Researched by Industrial Info Resources (Sugar Land, Texas)--Ohio's 2009 outlook for planned capital expenditures for industrial construction projects remains bright, despite concerns over project deferments related to the economic downturn. Ohio is currently the third largest state for 2009 industrial project development in the U.S. There are currently 171 projects being evaluated, representing more than $23 billion in total investment value. The industries seeing most of the development are Power with $6.9 billion, Chemical Processing with $5.6 billion and Metals & Minerals with $4.2 billion.

Click on the image at right to view a chart showing the breakdown of planned 2009 Ohio industrial project construction starts.

The Power Industry accounts for more than 25% of the activity in the state with 40 projects. One of the larger projects in the Power Industry is plans by American Municipal Power-Ohio Incorporated (Columbus, Ohio) to construct a grassroot 1,000-megawatt coal-fired power plant in Racine, Ohio. Construction could begin in October 2009.

Ohio got a big boost recently when V & M Star LP (Youngstown, Ohio) announced it would upgrade and expand the capacity of the Youngstown Steel Mill. The project could have a price tag exceeding $1 billion. The announcement comes at a time when cutbacks are being made by competing steel mills in the area to combat falling demand.

The Alternative Fuels Industry is in the top tier of industries with 11 projects totaling $5.7 billion. This includes large coal-to-liquids projects being developed by Atlantic Energy Ventures LLC and Rentech Incorporated (Denver, Colorado). The majority of the Alternative Fuel projects, especially ethanol projects, are expected to be deferred or canceled because of the economic situation.

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Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services.