Ohio Leads First-Quarter Spending Charge in Great Lakes Region

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Researched by Industrial Info Resources (Sugar Land, Texas)--The Great Lakes region is beginning 2008 much as it ended 2007 with significant spending dollars being allocated to both capital and maintenance work. Like in the last half of 2007, Ohio is ramping up to lead the way in total spending for the first quarter of 2008. Industrial Info is tracking more than $4.7 billion in capital and maintenance spending in Ohio that is scheduled to begin construction during the first quarter of 2008.

Click on the image at right to view Ohio Industrial Project Spending Analysis Chart.

The Power Industry is once again the leader in total spending within the state, much as it has been for the last decade of growth. For the first quarter, the Power Industry is scheduled to have almost $3 billion worth of projects begin construction. A distant second, the Chemical Processing Industry has $650 million in spending for the quarter while the Oil & Gas Transmission Industry holds third place with $368 million. Rounding out the top five are the Industrial Manufacturing Industry at $279 million and the Metals & Minerals Industry at $216 million.

The Power Industry is also the leader in terms of total projects scheduled for construction during the quarter with 14 while the Metals & Minerals Industry follows closely with 13 projects. The Industrial Manufacturing Industry is nipping at their heels with 10 projects with the Chemical Processing (five projects) and the Food & Beverage (four projects) industries rounding out the top five.

Some of the significant projects that are driving the first-quarter spending surge include the proposed $2.3 billion grassroot AMP coal power station, the $600 million American centrifuge plant construction project, the $367 million grassroot Rockies Express natural gas pipeline and the $288 million 200-megawatt biomass-to-energy renovation.

The Great Lakes region, Ohio in particular, is building off the momentum gained in capital and maintenance project work during 2007. With such a solid start, Ohio is poised for a breakout year in total expenditure numbers by year's end. As the prime construction months begin in late spring, we can expect the number of projects beginning construction each quarter to at least double if not triple while the money being spent could possibly double, making 2008 one of the best for expenditures on record for Ohio.

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Industrial Info Resources (IIR) is the leading marketing information services company for the industrial process, heavy manufacturing and energy-related markets throughout the world. Celebrating its 25th anniversary, IIR provides accurate and timely intelligence featuring plant and project information databases, focused market databases, industry forecasting, key industry contacts, industry and territorial map products, direct marketing services and applications, and daily industry news.