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Market Report

Columbus Industrial Market Report

Midyear 2023

Intel, Honda and Google Undertake New Projects,
Paving the Way for Long-Term Growth

Ongoing developments draw industry-related firms. Major manufacturing projects are currently underway in Columbus. Late last year, Intel began constructing the first of two chip factories in New Albany, slated to come online in 2025. In February 2023, Honda’s joint venture with LG Energy Solution broke ground in Fayette County. The EV battery plant is expected to be operational by the end of 2024. As these projects near completion, suppliers and supporting industries may seek regionally-proximate space. The growing presence of data centers in Ohio highlights this trend. Facebook and Amazon already operate data centers in Columbus, and Google and Microsoft announced new data centers in the metro this year. While the market expects a wave of supply, much of which is speculative builds, new space is warranted long-term.

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