Researched by Industrial Info Resources (Sugar Land, Texas) -- The state is home to several $1 billion+ projects as well as other big-ticket items. The 10 highest-valued projects account for $13.5 billion worth of investment. The Industrial Manufacturing and Pharmaceutical-Biotech industries account for about 85% of the total spend.
A variety of sectors, including semiconductor manufacturing, buoy North Carolina's manufacturing projects under construction. Wolfspeed Incorporated's $2 billion first phase of a grassroot plant in Siler City is well underway.
We expect this phase to wrap up next year and to include an approximately 400,000-square-foot facility. It also includes installing equipment to increase the production of 200-millimeter silicon carbide semiconductor wafers that support electric vehicle production and other applications. The Whiting-Turner Contracting Company provides general contracting services for this project. Subscribers to Industrial Info's Industrial Manufacturing Project Database can click here to read the detailed project report.
EV-related projects are popping up across the country, and North Carolina is no exception. Toyota Motor Corporation kicked off the construction of its Toyota Battery Manufacturing North Carolina (TBMNC) in 2022. This $1.29 billion grassroot EV battery plant in Liberty is a large contributor to North Carolina's industrial activity.
The 490,000-square-foot facility will feature four production lines with a production capacity of 200,000 batteries per line. The manufacturing facility plans to produce 800,000 hybrid and EV lithium-ion battery packs per year. The facility will also have the ability to ramp up to 1.2 million battery packs per year. Toyota expects production to begin in 2025.
Subscribers can click here to read the project report.
Another North Carolina project underway is a $1 billion addition of a fourth runway at Charlotte-Douglas International Airport.
The runway is approximately 200-foot-wide and 10,000-foot-long with two end-around taxiways. The runway will add capacity for more flights and bigger planes at the airport. Click here to read more information on the project, which we expect to wrap up in 2027. The North Carolina Department of Transportation Division of Aviation reports the airport has an annual economic impact of $32 billion and accounts for 5% of the state's gross product.
Two of the highest-valued pharmaceutical projects are components of Eli Lilly and Company's grassroot plant in the Research Triangle Park area.
The initial phase is undergoing final commissioning. It includes 12 buildings for the manufacturing and packaging of Eli Lilly's Trulicity and Tirzepatide medications. These two drugs treat Type 2 diabetes.
The $650 million Phase II expansion will provide additional buildings for further parenteral filling, device assembly and packaging capacity. We expect this expansion to wrap up around the end of the year. Subscribers to the Pharma-Bio GMI Project Database can read more information on the initial and expansion projects.
Meanwhile, the highest-valued project underway in North Carolina is FUJIFILM Diosynth Biotechnologies' Project Galaxy. This is a $3.2 billion end-to-end cell culture biopharmaceutical contract development and manufacturing organization (CDMO) facility in Wake County.
The company will equip the facility for vertically integrated contract production of bulk drug substances. We expect operations to begin in 2025.
Jacobs Solutions Incorporated is providing engineering, procurement and construction (EPC) services for the project. The project also includes a $1.2 billion expansion aimed at adding two production modules, harvesting capabilities and downstream processing. Subscribers can click here to read detailed information.
Other industries feature in North Carolina's projects under construction, albeit at a lower investment value. Construction of steelmaker Nucor Corporation's $350 million rebar micro mill in Lexington is nearly complete. In Nucor's second-quarter earnings call, Chief Executive Officer Leon Topalian said operations will ramp up in the first quarter of 2025, "to supply construction markets in the Southeast and mid-Atlantic regions." Click here to read the project report.
In the Power Industry, Apex Clean Energy Incorporated expects construction of its $250 million Timbermill Windfarm. This project should generate 189 megawatts and will wrap up before the end of the year. Subscribers to the Power Project Database can click here to learn more.
Subscribers to Industrial Info's GMI Database can click here to view reports for all projects discussed in this article. Subscribers can also click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
