Industrial Hotspots: Grassroots Industrial Projects Up Almost A Third
Industrial project activity has increased by almost a third in North America
for the first quarter of 2007 when compared to 2006, according to Industrial
Info’s North American
Project Spending Index.
As of this writing, Industrial Info was tracking $308 billion in North American
industrial project spending across all 12 industries. For the March 2007
update, project spending is up 32.33% when compared to March 2006. The
industries with the largest percentage of growth when compared to last year at
this time are Alternative Fuels (1,145%), Oil & Gas Transmission (212%),
and Petroleum Refining (120%). Industries showing a drop in percentage growth
include Oil & Gas Production (-31%) and Chemical Processing
(-22%).