Site Selection Group, a leading location advisory and economic incentives firm, researched site selection trends for manufacturing projects announced in the first half of 2020. According to Conway Analytics, although there were fewer announced manufacturing projects from the first half of 2020 compared to the same period in 2019, these announcements had a higher average job creation and capital investment per project. At 157 employees, the average number of jobs created per project was up 12.4% from 2019. Capital investment per project announcement also increased, with an average of approximately $128 million compared to an average of $80 million from the previous year.

Comparing 2020 with 2019

Despite the overall decrease in project activity, job creation followed roughly the same distribution as the previous year, with a sizeable proportion of projects falling into the mid-size range.

Manufacturing Project Announcements by Job Creation

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Source: Conway Analytics

 

While a sizeable number of the projects announced in the first half of 2020 had less than $5 million in capital investment, 15% of announced projects investment over $100 million.

Manufacturing Project Announcements by Capital Investment

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Source: Conway Analytics

 

Metros with high manufacturing project announcements and growth

Site Selection Group identified 10 metros areas with high activity of manufacturing projects thus far in 2020.

Metro Area Projects Announced
Charlotte-Concord-Gastonia, NC-SC 7
Indianapolis-Carmel-Anderson, IN 6
New York-Newark-Jersey City, NY-NJ-PA 6
Rochester, NY 6
Sanford, NC 6
Boston-Cambridge-Newton, MA-NH 5
Chicago-Naperville-Elgin, IL-IN-WI 5
Dallas-Fort Worth-Arlington, TX 5
Detroit-Warren-Dearborn, MI 5
Virginia Beach-Norfolk-Newport News, VA-NC 5

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