Southeast Region Construction Starts for Third-Quarter 2012 at More than $5.7 Billion

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Researched by Industrial Info Resources (Sugar Land, Texas)--The Southeast region is recording a strong third quarter of 2012, with more than $5.7 billion in capital and maintenance expenditures planned or under way. Industrial Info is currently tracking more than 180 projects with construction starts slated for July through the end of September at sites in Alabama, Florida, Georgia, Mississippi, Tennessee, Puerto Rico and the Virgin Islands. Project values range from $500,000 to $1 billion, with just more than 100 projects, or 58% of all regional projects, falling in the $1 million to $10 million range.

In contrast, project starts for third-quarter 2011 had a combined value of $2.6 billion, derived from 256 projects. Figures for this year were inflated by a higher number of projects, upward of $100 million, and two mega-sized projects--one worth $405 million and the other $1 billion--while the largest project for same period last year was $365 million.

Georgia has the highest number of construction starts for the quarter, with 48 projects that have a cumulative investment value of $1.4 billion, followed by Tennessee, with 41 projects valued at $1.2 billion. Alabama rounds out the top three states in the region as far as projects counts, with 38 projects worth $1.5 billion.

Click on the link to view a graph of third-quarter 2012 construction starts by state.

From an industry perspective, the Industrial Manufacturing Industry ranks the highest in project counts, with 47 projects scheduled to commence construction during the third quarter. The Pharmaceutical & Biotech Industry and the Food & Beverage Industry show 33 and 25 project starts, respectively.

Click on the link to view a graph of third-quarter 2012 construction starts by industry.

Grassroot construction activity will account for more than $3.7 billion, or nearly 65%, of total spending for the quarter from 28 projects. The remaining $2 billion is aimed at expansions, additions, upgrades and modifications, as well as major scheduled maintenance.

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.