December 2024 Recap

Industrial SalesLeads has released its December 2024 capital project spending report, delivering insights into new and upcoming investments across the industrial manufacturing sector. Following a volatile first half of the year, project activity stabilized in the second half, signaling more predictable growth across the industry. Our research team tracked 138 new industrial manufacturing projects in December alone, including major plant construction, facility expansions, and equipment modernization projects across North America.

Here are key insights from the industrial manufacturing projects and highlights of recent construction news in the Industrial Manufacturing sector.

Industrial Manufacturing Projects by Type

• Manufacturing and Production Facilities: 119 new projects

• Distribution and Industrial Warehouses: 70 new projects

Industrial Manufacturing Projects by Scope

• New Construction: 38 projects

• Facility Expansions: 55 projects

• Renovations and Equipment Upgrades: 69 projects

• Plant Closings: 10 projects

Top States for Industrial Manufacturing Projects

• South Carolina – 12 projects

• North Carolina – 10 projects

• Florida – 9 projects

• Illinois – 8 projects

• Indiana – 8 projects

• Michigan – 8 projects

• Minnesota – 7 projects

• New York – 7 projects

• Texas – 7 projects

• Tennessee – 6 projects

Largest Planned Industrial Project in December

In December, Industrial SalesLeads identified 18 industrial manufacturing projects valued at $100 million or more. The largest project is led by Ford Motor Company, which is investing $5.6 billion to build a 4 million-square-foot EV automotive and battery manufacturing campus in Stanton, Tennessee. Completion is expected by fall 2027.

Top 10 Industrial Manufacturing Projects Tracked in December

Wisconsin
A pharmaceutical company is planning a $3 billion expansion of its processing facility in Pleasant Prairie, WI. Construction is expected to begin in 2025 pending approvals.

Virginia
A semiconductor manufacturer is investing $2.2 billion to expand and upgrade its manufacturing facility in Manassas, VA. Approvals are pending.

North Carolina
A biotechnology company is preparing a $1 billion expansion of its processing facility in Holly Springs, NC. Approvals are pending.

South Carolina
An aerospace company announced a $1 billion expansion and upgrade of its manufacturing operations in North Charleston and Ladson, SC. The project includes construction of a new maintenance and testing facility, with completion scheduled for 2027.

Tennessee
A battery component manufacturer is evaluating sites in the Chattanooga, TN area for a potential $1 billion manufacturing facility. Updates will be provided as planning progresses.

Kentucky
An automotive manufacturer will invest $922 million in a 1 million-square-foot expansion and equipment upgrades at its Georgetown, KY manufacturing and warehouse facility. Completion is slated for 2027.

Texas
An aerospace company will invest $429 million to renovate and modernize a 447,000-square-foot manufacturing and warehouse facility in Fort Worth, TX. The project has received approval.

Michigan
A truck component manufacturer is planning a $285 million expansion and upgrade of its facility in Redford Township, MI. Construction is expected to begin in early 2025 pending approvals.

North Carolina
A specialty wire products manufacturer is evaluating a site in Chatham County, NC for a $194 million greenfield manufacturing facility.

South Carolina
An automotive component manufacturer has received approval for a $194 million expansion of its manufacturing facility in Piedmont, SC.

About Industrial SalesLeads

Since 1959, Industrial SalesLeads, headquartered in Jacksonville, FL, has been a trusted provider of industrial project intelligence and prospecting services for sales and marketing teams.

Our Industrial Market Intelligence (IMI) platform delivers timely data on companies planning significant capital investments such as new construction, expansions, relocations, equipment upgrades, and plant closings.

In addition, our Outsourced Prospecting Services act as an extension of your sales team, delivering qualified meetings and appointments to help drive predictable growth.

Industries Tracked by Industrial SalesLeads

Every month, our research team delivers hundreds of verified industrial project reports across multiple industries, including: