Utah Springs Forward as Leader in Industrial Project Activity Planned for 2008 in the Rockies

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Researched by Industrial Info Resources (Sugar Land, Texas)--Planned project spending for the Rocky Mountain region has increased 50% compared with 2007 figures. There are 352 projects totaling more than $37 billion scheduled to begin construction in 2008 compared with $24 billion in 2007 (Based on Industrial Info's monthly updated Project Spending Index). States not typically known for industrial construction activity like Utah and Idaho are lining up big projects.

Click on the image at right to view a chart showing the breakdown of 2008 project spending by state.

Probably the biggest surprise for 2008 is the fact that Utah has leapfrogged both Arizona and New Mexico to lead the region in both planned project spending and project activity for 2008. Based on projects scheduled to begin construction in 2008, Utah leads all states in the region with 59 projects totaling $6.5 billion. Utah's rise can be attributed to an influx of energy-related projects including $3.7 billion for the Power Industry, mainly for coal-fired-related developments, a planned $500 million petroleum refinery project, and some large-scale oil and gas pipeline projects. Nonenergy-related industries are experiencing an increase in activity, as well. There's even a grassroot paper mill planned to begin construction next year in Utah. For the Pharmaceutical-Biotech Industry, nine projects totaling $751 million are planned in the state for 2008.

Idaho, while being the state with the least amount of activity, still has $1.6 billion planned.

Arizona is a close second to Utah with $6.2 billion, followed by New Mexico with $6.1 billion, Nevada with $5.1 billion, Wyoming with $4.9 billion, Colorado with $4.1 billion and Montana with $2.7 billion.

Industrial Info Resources (IIR) is the leading marketing information services company for the industrial process, heavy manufacturing and energy-related markets throughout the world. For more than 24 years, IIR has provided accurate and timely intelligence through products such as 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.