A report released March 12 shows that planned US food and beverage industry projects decreased by 11 percent from January, while four new projects have an estimated value of at least $100 million.
In its monthly report tracking planned US food and beverage projects, industrial and commercial market intelligence firm SalesLeads said it noted 79 such projects during February, down 10 from January.
SalesLeads’ February recap is broken down as follows:
- 60 projects were for processing facilities (58 in January)
- 22 were for distribution centers or warehouses (20 in Jan.)
- 30 were new construction projects (19 in Jan.)
- 17 were expansion projects (25 in Jan.)
- 34 projects entailed renovations and equipment upgrades (35 in Jan.)
- 6 were plant closures (9 in Jan.)
- Pennsylvania, Florida, New York and California each tied for the US lead in new planned projects identified in February with six apiece. Texas and Vermont were next with four each, followed by a four-way tie at three projects from Ohio, Virginia, Kentucky and South Carolina.
SalesLeads identified four new food and beverage facility construction projects in February with an estimated value of at least $100 million. That is up from two $100+ projects identified in January. The largest of these four is Atlantic Sapphire, which is investing $340 million and has recently started the expansion of their facility in Miami, FL by 1 million square feet. Construction will occur in phases, with completion of the first phase slated for fall 2020.
The other 10 largest food and beverage projects tracked by SalesLeads in February include:
- Pet Food maker Nestle Purina Petcare plans to invest $140 million for an expansion and equipment upgrades on their processing facility in Clinton, IA, which has recently received approval.
- Diversified food products Conagra Brands plans to invest $106 million for a 65,000-square-foot expansion and equipment upgrades on their processing facility in Jackson, TN, which has recently received approval.
- Meat processing company Seaboard Foods plans to invest $100 million for the expansion and equipment upgrades of their processing facility in Guymon, OK, which has recently received approval.
- Beverage Company Niagara Bottling is investing $70 million for the construction of a 502,000-square-food processing facility in Florence, SC. Completion is slated for early 2021.
- Packaged meat products producer Plumrose USA plans to invest $68 million for the construction of a processing facility in Moberly, MO.
- Beverage company Niagara Bottling is investing $37 million for an expansion and equipment upgrades of their processing facility in Jeffersonville, IN, which has recently received approval.
- Makers Mark Distillery plans to invest $30 million for the construction of five warehouses in Lebanon, KY, which has recently received approval.
- Dairy products manufacturer Steuben Foods plans to invest $26 million for the renovation and equipment upgrades of their 33,000-square-foot processing facility in Elma, NY, and they are currently seeking approval. Renovations are expected to start in summer 2020, with completion set for December 2021.
- Distributor Carolina Premium Beverage plans to construct a 228,000-square-food warehouse and distribution facility in Charlotte, NC, which has recently received approval. They will relocate operations upon completion in early 2021.
