It’s hard to believe that we have closed the books on 2024 and we’re charging into a new year! Below, you can see our economic development update for the final three months of 2024.
Understanding the distribution and specifics of project leads is crucial for fostering growth and making informed investment decisions. Below you can see key data points providing a comprehensive look at project leads by state, building size requirements, acreage requirements, and industry. These insights can aid you, businesses, investors, and policymakers in identifying opportunities and aligning strategies with regional and sectoral needs.
Project Leads by State:
Analyzing project leads by state offers a snapshot of economic activity across our 23 member cooperatives. This breakdown helps identify which states are seeing the most interest in new projects and can guide resource allocation and strategic planning.
- 28 leads solely interested in Indiana
- 9 leads solely interested in Illinois
- 6 leads solely interested in Missouri
- 1 lead interested in Indiana and Illinois
- Total of 44 leads were submitted in the fourth quarter
- Total of 192 leads were submitted in 2024
Projects leads by industry:
Understanding the distribution of project leads by industry helps to identify economic trends and sectoral growth patterns. WVPA communities received 30 leads in the manufacturing industry, by far the largest amount in any sector. We also received warehousing and data center inquiries during the quarter. Yet the popularity of manufacturing projects in this last quarter of 2024 reflects what WVPA experienced throughout the year.
Acreage Requirements
Project leads vary significantly based on the acreage requirements, reflecting diverse types of developments and their spatial needs. In the fourth quarter, the most requested acreage size was 11-50 acres and 100+ acres. We had 11 requests that came in with an unknown acreage need.
Building Size
The scale of buildings required for projects provides insight into the nature and scope of these developments. Knowing this information can help prepare our communities for future growth. In the fourth quarter, the most submitted building size requirement was between 0 to 100,000 square feet, though we still received requests for larger facilities. We also received many projects coming in with an unknown building size requirement.