We’re updating our previous blog post on new industrial manufacturing capital spending projects. We monitor planned capital improvement projects as a way to add value to our marketing services for manufacturers.
New projects present one measure of manufacturing industry health. Also, new projects present opportunities for supplier contracts if you’re a supplier for building materials, machinery, or other equipment and supplies relevant to facility development.
So far in 2022, over 700 planned industrial manufacturing capital projects have been reported for North America. These projects include expansions as well as new plant construction and large modernization projects in the industrial manufacturing sector.
As shown in the image above, the total number of new planned projects has been holding fairly steady each month so far in 2022.
In May alone, 124 manufacturing or production facilities were planned. 12 facility construction projects will likely exceed $100 million in investments. The largest project, an aluminum products manufacturer in Alabama, came in at $2.5 billion in planned spending!
Top states in the U.S. for planned projects range from coast to coast and border to border!
In May, the top location for planned projects was North Carolina with 13 projects announced. Indiana had 9 projects announced. California saw 8 projects announced.
Six states tied for 6 projects planned each: New York, Ohio, Pennsylvania, Tennessee, Washington, and Wisconsin. Previous months also included Texas, Michigan and South Carolina.
Buyers for these projects will be online searching for suppliers. Your sales team knows how to pursue identified leads, but is your website optimized to get you found by buyers searching online?
Update your SEO (Search Engine Optimization) for your manufacturing website to get noticed. Then, keep the attention of buyers by ensuring your website says all the right things in the right way to meet their needs.
Get our free whitepaper on content and lead nurturing to ensure you capture your share of the pie from upcoming capital projects.
What manufacturing metrics do you monitor? We’d love to hear about it!
Let’s talk! Or, connect with us on LinkedIn or Tweet us.
–parin
Managing Partner
