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  • Posted On Monday, February 06, 2023 by Evan Lamolinara

    Foodjan2023

    IMI SalesLeads announced today the January 2023 results for the new planned capital project spending report for the Food and Beverage industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 91 new projects in January as compared to 69 in December 2022 the Food and Beverage sector.

    The following are selected highlights on new Food and Beverage industry construction news.

    Food and Beverage Project Type

              Processing Facilities - 72 New Projects

              Distribution and Industrial Warehouse - 20 New Projects         

    Food and Beverage Project Scope/Activity

              New Construction - 35 New Projects

              Expansion - 20 New Projects

              Renovations/Equipment Upgrades - 45 New Projects

              Plant Closing - 2 New Projects

    Food and Beverage Project Location (Top 10 States)

              Florida - 7

              Pennsylvania - 7

              California - 5

              Michigan - 5

              Ontario - 5

              Virginia - 5

              Kentucky - 4

              South Carolina - 4

              Wisconsin - 4

              Ohio - 3                    

    Largest Planned Project

    During the month of January, our research team identified 7 new Food and Beverage facility construction projects with an estimated value of $100 million or more.

    The largest project is owned by SK Food Group, who is planning to invest $205 million for the construction of a 525,000 sf processing facility in CLEVELAND, TN. They are currently seeking approval for the project. Construction is expected to start in late 2023, with completion slated for 2025.

    Top 10 Tracked Food and Beverage Projects

    GEORGIA:

    Poultry processing company is planning to invest $171 million for a 156,000 sf expansion and equipment upgrades on their processing facility in GAINESVILLE, GA. They are currently seeking approval for the project.

    SOUTH CAROLINA:

    Specialty beverage mfr. is planning to invest $130 million for the construction of a 110,000 sf processing facility in MOORE, SC. They are currently seeking approval for the project. Completion is slated for late 2024.

    WISCONSIN:

    Nutritional food product mfr. is planning to invest $43 million for the expansion and equipment upgrades at their processing facility in EAU CLAIRE, WI. They are currently seeking approval for the project.

    ALABAMA:

    Beverage distributor is planning to invest $33 million for the renovation and equipment upgrades on a warehouse and office facility at 401 N. Water St. in MOBILE, AL. They are currently seeking approval for the project. They will relocate their operations upon completion.

    ARKANSAS:

    Coffee company is planning for the construction of a 530,000 sf distribution center on William J. Clark Dr. in CONWAY, AR. They are currently seeking approval for the project. Completion is slated for late 2023.

    FLORIDA:

    Foodbank is planning to invest $20 million for the renovation and equipment upgrades on a recently acquired 103,000 sf warehouse facility at 5245 Old Kings Rd. in JACKSONVILLE, FL. They are currently seeking approval for the project. Completion is slated for late 2023. 

    SOUTH CAROLINA:

    Beverage company is planning to invest $15 million for the construction of a 165,000 sf distribution and warehouse facility in NORTH MYRTLE BEACH, SC. They have recently received approval for the project. They will relocate their operations upon completion in late 2023.

    ONTARIO:

    Bakery products mfr. is planning to invest $15 million for the expansion and equipment upgrades on their processing facility in HAMILTON, ON. They have recently received approval for the project.

    MAINE:

    Non-profit organization is planning to invest $12 million for the renovation and equipment upgrades on a 30,000 sf processing facility on Darling Ave. in SOUTH PORTLAND, ME. They are currently seeking approval for the project. 

    FLORIDA:

    Foodbank is planning to invest $20 million for the renovation and equipment upgrades on a recently acquired 103,000 sf warehouse facility at 5245 Old Kings Rd. in JACKSONVILLE, FL. They are currently seeking approval for the project. Completion is slated for late 2023. 

    About IMI SalesLeads, Inc.

    Since 1959, IMI SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, IMI identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closings in industrial facilities. The Outsourced Prospecting Services, an extension to your sales team, is designed to drive growth with qualified meetings and appointments for your internal sales team. Visit us at salesleadsinc.com.

    Each month, our team provides hundreds of industrial reports within a variety of industries, including:

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