February Industrial Spending Jumps, Ends Slide
RALEIGH, NC - March 1, 2010
Research by Industrial Reports, Inc. shows combined February planned capital spending for U.S. and Canadian industrial projects grew by 50 percent compared to January spending. The February total for the two nations was $25.68 billion, compared to January's $17.07 billion. The spending increase ends a 68 percent drop from the previous two months. The research organization reported 284 planned U.S. and Canadian projects for the month of February.
Planned February project investment in the U.S. was $19.77 billion, a 53 percent increase from January's $12.85 billion. Canadian investment for February was $5.91 billion, a healthy 40 percent over January's $4.22 billion in planned spending. Projects in both nations ranged in value from $800,000 to $2.5 billion.
Energy facility projects led in the U.S. with $11.69 billion in planned investment, followed by process projects at $4.71 billion. Manufacturing facility projects accounted for $2.38 billion in planned U.S. spending.
In Canada, process facilities led planned project investment with $3.32 billion, followed by energy facilities with $2.49 billion planned.
Texas was the U.S. investment leader with $3.03 billion in planned spending, followed by California with $2.92 billion and Tennessee with $2.67 billion.
In Canada, Saskatchewan led the provinces and territories with $2.48 billion in planned project investment for the month, followed by British Columbia with $1.25 billion and Manitoba with $810 million in planned spending.
California and Pennsylvania led the U.S. in project activity with 14 planned projects each, while North Carolina and Wisconsin reported 13 planned projects each. Ohio reported 12 planned projects.
Ontario was the Canadian leader in project activity with 16 planned projects reported, followed by British Columbia with seven projects and Saskatchewan with six.
Industrial Reports researches projects in the United States and Canada for companies that provide services, materials and equipment for new and expanding industrial facilities, including:
- Manufacturing Facilities
- Process Facilities
- Chemical Process Facilities
- Food Processing Facilities
- Research & Development Laboratories
- Distribution Facilities
- Energy Facilities
- Industrial Buildings
- Industrial Equipment Installation
- Water/Wastewater Treatment Facilities
- Solid Waste Facilities
- Plant Dismantlements
The following are selected projects researched and reported in February:
British Columbia:
$400 Million Natural Gas Processing Plant, Design Complete
California:
$40 Million Solar Panel Plant Expansion, Design Phase
Florida:
$70 Million Biofuels Research & Production Facility, Planning Phase
Indiana:
$11 Million Beverage Distribution Facility Expansion, Design Phase
Louisiana:
$3 Million Truck Terminal, Planning Phase
New Brunswick:
$3 Million Lumber Mill Restart & Upgrade, Planning and Some Design
New Hampshire:
$1 Million Laboratory Equipment Plant Dismantlement, Planning Phase
New York:
$1.1 Billion Combined-Cycle Power Plant, Planning Phase
North Carolina:
$15 Million Tortilla Production Plant, Design Phase
Tennessee:
$5 Million Solid Waste Landfill Expansion, Design Phase
Washington:
$47.5 Million Potable Water Pump Station, Design Phase
Wisconsin:
$10 Million Precipitated Calcium Carbonate Plant, Planning and Some Design |
