HOUSTON — The Northeast continues its reign as a favored destination for industrial capital investment dollars, according to Industrial Information Resources. The first six months of 2006 are expected to see the start of 332 capital and MRO projects representing $7.4 billion in total investment value in the region.
Including the states of Delaware, New Jersey, New York and Pennsylvania, the Northeast is already home to more than 3,000 operational industrial facilities listed in the Northeast Region Online Plant Directory, representing almost every major manufacturing sector. Industrialinfo.com publishes the Northeast Region Online Plant Directory along with nine other regional directories.
The power generation sector leads the region in terms of spending with 96 active projects scheduled for January through June, carrying a total investment value of $3.8 billion. The projects range from annual maintenance work to the grassroots construction of a $925 million 500-mW waste coal-fired power plant in Nemacolin, Pa.
Industrial manufacturing places second in spending in the Northeast with 89 active projects representing $1.4 billion in project starts for the six-month period beginning in January. The largest of these projects is located in Newark, N.J., and calls for the construction of a $325 million light rail project. The remainder of the activity is scattered throughout the other major industry sectors, including metals and minerals, $917 million, and pharmaceutical-biotech, $697 million.
While some of the activity represents grassroots construction, a number of these projects are maintenance and repair in the more than 3,000 industrial plants located in the region. The Northeast represents a wide variety of industrial plants, with the food and beverage
sector and industrial manufacturing plants responsible for more than 1,200 locations. Other industries with a significant presence in the region include about 500 chemical plants, 40 major petroleum refineries, 130 bulk storage terminals and 300 power-generating stations. The pharmaceutical-biotech industry supports more than 150 operational plants in the region.
Industrial Information Resources is a marketing information service company. IIR provides market intelligence pertaining to the industrial processing, heavy manufacturing and energy-related industries throughout the world. More information is available from industrialinfo.com