Prospects for Food and Beverage Expenditures in Northeast Region Still Favorable in Aftermath of Hurricane Sandy

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Researched by Industrial Info Resources (Sugar Land, Texas)--While the Northeastern U.S. dries out and prepares for the rebuilding process from the devastation caused by Hurricane Sandy, the forecast for project spending at food and beverage manufacturers and distributors across the region remains relatively strong. Industrial Info is currently tracking more than $1.3 billion in project expenditures within the Food and Beverage Industry in the region, which includes Delaware, New York, New Jersey and Pennsylvania.

There are more than 65 major capital and maintenance projects being developed or under construction in the region, with scheduled construction start dates as far out as October 2014. The investment value of individual projects ranges from $500,000 to $134 million.

Figures for New York show 34 projects worth $577 million. Pennsylvania has 18 projects with a combined total of $436 million. New Jersey and Delaware show 11 and 5 projects worth $299 million and $84 million, respectively.

In contrast, current project activity in Great Lakes region, which ranks first in the U.S. in the number of projects and total investment value, shows more than 225 projects worth $3.7 billion. When compared to the nine market regions that comprise the U.S., the Northeast region ranks seventh.

There are more than 600 major operational plants across the four-state region that process, manufacture and distribute food and beverage products. Some of the facility owners include Anheuser-Busch InBev (NYSE:BUD) (St. Louis, Missouri), The Coca-Cola Company (NYSE:KO) (Atlanta, Georgia), Cargill, and Kellogg Company (NYSE:K) (Battle Creek, Michigan). With plans on the table to build 17 new facilities from the ground up, grassroot construction activity, worth about $763 million, accounts for nearly 55% of all expenditures.

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.