DETROIT-More than $2 billion worth of industrial construction projects are in the pipeline to begin in Michigan before the close of the year, according to a research firm.

Industrial Information Resources, Inc. of Houston, says the bulk of this will come in the power industry, seven projects–worth a combined $1.8 billion–will begin construction in the last quarter of 2003. In comparison, the industrial manufacturing industry has the most projects that will kick-off in the fourth quarter, with 10. Those 10 projects, however, only amount to an investment of $39 million.

In addition, the report says, the food and beverage industry will spend $54 million in the last quarter on two projects that are scheduled to begin construction in the Wolverine state.

The chemicals and metals and minerals industries will both provide the state with $11.5 million worth of capital project kick-offs in the fourth quarter; however, chemicals will only have two projects while metals and minerals will have four. Finally, the pharmaceuticals and biotechnology industry will add another two projects worth $21 million.

All total, Michigan will be on the receiving end of $2 billion in construction kick-offs in the fourth quarter in the form of 27 projects spread across six industries. In comparison to the Great Lakes region as a whole, Michigan will play host to 18.6% of the capital and 13% of the projects that the region will have kicking off in the final three months of the year.

One of the larger projects scheduled to kick-off construction in the fourth quarter is the proposed $40 million new pizza dough plant project located in New Boston, MI. This project is being developed by Ilitch Holdings of Detroit and is a three-phased expansion of the existing pizza dough plant that services Ilitch’s Little Caesar’s Pizza chain.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.