Northeast Region Sees 47 Percent Increase In Capital/MRO Projects

According to Industrial Info Resources, 531 projects worth $25.8 billion are planned for the region for 2007.

New England has 531 capital/MRO (maintenance) projects worth $25.8 billion planned for 2007, according to recent research by Industrial Info Resources.

The $25.8 billion total investment value (TIV) for 2007 is 47 percent higher than that of 2006. The average TIV for projects in 2007 is also significantly higher than 2006. The $48 million average TIV is a 54 percent increase over 2006’s $31 million, the report said.

New York will see the largest share of projects, with $11.5 billion worth of construction on 192 projects with an average TIV of $59 million. Last year, New York had 187 projects worth $2.1 billion at an average TIV of $11.7 million, the research showed.

According to the report, New Jersey followed second with 99 projects worth $7.3 billion and Pennsylvania (which was first in 2006) ranked third with 214 projects worth $7.2 billion.

Industrial Manufacturing saw the biggest increase in the region, with 131 projects worth $11.6 billion. In 2006, the sector had 164 projects worth $1.7 billion. The Power Industry ranked second, with 115 projects worth $7.7 billion, according to Industrial Info.

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