Industrial Hotspots: Industrial Spending Still Surges
More than $282.3 billion in active industrial projects have begun construction or are scheduled to begin construction in North America in 2007. The alternative fuels industry continues to experience the largest increase in growth with more than $44 billion in active projects for 2007. Explosive growth is occurring in this industry as hundreds of ethanol and biodiesel plants move forward.
Petroleum refining is the second largest growth industry in 2007 with 200% growth measured. The industry is planning to begin construction of more than $21 billion in capital and maintenance projects in 2007. Record profit margins and rising demand have domestic refiners ripe for capacity expansion and modernization projects.