Food and Beverage Expenditures ‘Steady’ In Rocky Mountain Region
SUGAR LAND–October 12, 2012–Researched by Industrial Info Resources (Sugar Land, Texas)–The Food and Beverage Industry in the Rocky Mountain region is sitting atop more than $1.2 billion in investments that are geared toward building new food processing facilities and distribution centers, capacity expansions or upgrades of existing plants. Industrial Info has identified more than 65 major capital and maintenance projects that are planned or under way in the region, which comprises Arizona, Colorado, Wyoming, New Mexico, Nevada, Idaho, Utah and Montana. Investments in individual projects range in value from $500,000 to $300 million. In contrast, current project activity in Great Lakes region shows more than 225 projects worth $3.7 billion.
One of the largest projects in the region is the construction of a $100 million yogurt manufacturing plant in Twin Falls, Idaho, that is in the late stages of construction and is scheduled to be completed by the end of the year. Construction has begun on 14 projects, including the Twin Falls project, with a combined total investment value of $311 million.
Grassroot construction activity accounts for $859 million in expenditures and will result in 19 new plants.
Of the eight states within the Rocky Mountain region, Idaho ranks first in terms of project counts with 22 projects worth more than $586 million. Colorado and Arizona round out the top three states with 19 projects and nine projects worth $243 million and $61 million, respectively.
According to Industrial Info’s plant database, the Rocky Mountain region is home to more than 300 major food and beverage manufacturing and distribution facilities that are currently operational. Plant owners include the likes of Cargill, Coca-Cola Bottling Company (NYSE:KO), General Mills (NYSE:GIS), and Sysco Corporation (NYSE:SYY).