An expected $15 billion in capital projects will begin construction in the Northeast region during the second half of 2008, according to Industrial Info Resources, Sugar Land, Texas. Divided between 205 projects, the average total investment value (TIV) for each is $73 million. The proposed construction differs in purpose and investment, with each of the region's four states — Delaware, New Jersey, New York, and Pennsylvania — anticipating a share of new project starts before the year concludes. This is a 300% increase in terms of TIV compared to 2007's $5.2 billion.
Contributing to the 2008 jump are three projects topping $1 billion each, including a $2 billion grassroot coal gasification plant.
Pennsylvania leads the region in both the most project activity and the highest TIV. Before the year's end, the state expects to see 89 projects with a combined TIV of $7.3 billion. New York anticipates 74 to start, worth $5.5 billion, while 37 projects are slated to begin in New Jersey with a TIV of $1.8 billion. Delaware is looking at five worth $96 million.