Louisiana Economic Development is continuing to bring big dollar manufacturing and energy companies to settle and invest in the pelican state. Check out some of the latest headlines from LED and links to the full stories below.
Chief Executive announced that CEOs nationwide rank Louisiana as the most improved state for business in the U.S., according to the magazine’s 2012 Best/Worst States for Business ranking. Louisiana’s ranking soared from 27th in 2011 to 13th this year, the largest improvement of any state. Since 2008, Louisiana has improved 32 spots, also the largest gain by any state in the U.S.
CEOs noted both the improved policy and regulatory environment in Louisiana, along with the improved economic performance, according to Chief Executive Editor-in-Chief JP Donlon, who writes, “Although often eclipsed by Texas, its next door neighbor, Louisiana is the Cinderella of business improvement.” The Chief Executive editor summed up Louisiana’s resurgence by quoting one company chairman who completed the survey: “In Louisiana, there is an active government push to reduce taxes and regulation and to encourage new industry to relocate to the state. [Read More]
Octavio Simoes, President of Sempra Energy’s LNG operations, announced that Sempra has secured the third and final commercial agreement to develop a $6 billion natural gas liquefaction export facility at the site of Sempra’s existing Cameron LNG, or liquefied natural gas, receiving terminal in Hackberry, La.
The 12 Mtpa LNG export facility will add 130 new direct jobs, retain 60 existing jobs at Sempra’s Cameron Parish terminal and result in an estimated 610 permanent new indirect jobs, along with 3,000 construction jobs at peak activity. The 130 new direct jobs will pay an average annual salary of $80,000, plus benefits. [Read More]
SE Tylose will invest $120 million to build a hydroxyethyl cellulose, or HEC, plant at Shintech Louisiana’s Plaquemine site. SE Tylose, a sister company of Shintech, will produce HEC chiefly for latex paints to create water-soluble coatings, to adjust viscosity, to improve adhesiveness and to prevent sedimentation of the colorants. The Iberville Parish project will create 30 new direct jobs with an average annual salary of $58,000, plus benefits, while helping to retain 270 Shintech jobs. LED estimates the project also will result in 292 new indirect jobs for the Capital Region and surrounding areas of Louisiana. [Read More]