Industrial Manufacturing Spending On The Rise in 2006
North American spending for the industrial manufacturing industry almost doubled in 2005, when compared to 2004, according to Industrialinfo.com (Industrial Information Resources Inc. Houston, TX). IIR projects 2006 spending to continue to increase, although not in such a dramatic way. As of mid-January, IIR was tracking industrial manufacturing projects worth in excess of $47.6 billion that are scheduled to begin construction in 2006. This is an increase of $7.5 billion, or 18%, over 2005's total spending at year's end.
Here are some regional and industry snapshots of 2006 project plans, according to IIR. Totals include maintenance and capital projects in various stages of development from the early planning to the advanced engineering stages, with total investment values (TIV) of at least $1 million scheduled to begin construction in 2006.