Light in the gloom

February 12, 2010
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Here’s a point of light in the economic haze. Indiana has more industrial project construction going on than any nearby state.

Industrial Info Resources, a Houston-area research firm, says the value of industrial construction underway in Indiana totals $8.5 billion, more than any surrounding state or Wisconsin can claim.

Industrial Info counts big projects as well as maintenance, which can be nickel-and-dime stuff of $1 million here, $3 million there. Nevertheless, when a state as small as Indiana has more activity than Illinois, Michigan or Ohio, it says something.

That top status won’t last long. Industrial Info shows Indiana launching only $3.4 billion in industrial construction this year, with much of the figure driven by wind farms. In 2011, the value of fledgling construction rises to $8.3 billion, but that will be only a fraction of projects scheduled to begin in some of the nearby states.

Industrial Info Resources, by the way, is pure in its definition of “industrial”—no warehouses. It tracks power generation, oil terminals and transmission, chemicals, alternative fuels, pharmaceuticals and biotech, paper, metals, foods and beverages, and industrial manufacturing.

Thoughts?

 

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  • Indiana Leads Great Lakes Region in Industrial Project Construction, But Could Drop in 2010
    Industrial Info is pleased to post the entire article on IBJ


    SUGAR LAND--February 12, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--Indiana has 52 industrial capital and maintenance projects totaling $8.5 billion currently under construction, making it the leading state in the six-state Great Lakes Region, which includes Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin. Second on the list is Illinois with 55 projects totaling $8.2 billion.

    While spending is down significantly from previous years, Indiana remains the top state in the region for projects under construction. In 2008, for example, there was $11 billion worth of industrial projects under construction in the state. For additional information, see related October 17, 2008, news article - Indiana Leads Great Lakes States with $11 Billion of Industrial Project Construction.

    However, Indiana could lose its rank as the No. 1 state this year, as the value of planned construction starts for the state in 2010 is only $3.4 billion, substantially less than previous years. The $3.4 billion comes in the form of 146 projects scheduled to start construction this year.

    The largest project scheduled to begin construction this year in Indiana is a $380 million wind energy project near the town of Brookston. Horizon Wind Energy LLC (Bloomington, Illinois) is planning to start construction this spring on a third-phase expansion at the Meadow Lake windfarm to add 100 megawatts (MW) of wind turbines. Horizon Wind Energy currently operates 299 MW of wind capacity at Meadow Lake. Power generation projects account for about a third of the project value planned to begin construction in 2010. Alternative Fuels, Industrial Manufacturing and Metals & Minerals round out the majority of the remaining projects.

    Looking to future years, 78 projects totaling $8.3 billion are planned to begin construction in Indiana in 2011 and beyond. Indiana trails Illinois with 145 projects totaling $26.1 billion, Ohio with 101 project totaling $25.3 billion, and Michigan with 66 projects totaling $25 billion.

    For a comprehensive analysis of Great Lakes Project Spending check out Industrial Info's recently released Great Lakes 2010 Project Spending Wall Map. Use Promo Code GLPS2010INT for an introductory 10% discount.

    View Project Report - 11003381

    Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy related markets. For more than 26 years, Industrial Info has provided plant and project spending opportunity databases, market forecasts, high resolution maps, and daily industry news.

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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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