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Oil Drilling Supplier Expanding in Louisiana

10/14/2008
Gulf Island Fabrication Inc., a manufacturer of offshore drilling and production platforms and other specialized structures, will invest approximately $27 million to expand its operations in Houma, Louisiana, according to the Louisiana governor's office. The company will create 200 new jobs with an average annual salary of $53,000 per year and retain 1,300 existing positions with the project. Plans call for a new corporate headquarters and warehouse, updates to equipment, a new fabrication shop, road improvements, new sewage lines and drainage systems, and a new dry dock. "In 1985, the company chose to locate to Houma for several reasons - two reasons were the Houma Navigation Canal, which allowed the company to be competitive in the oil and gas industry, and the work ethic of the people in south Louisiana," says Kerry Chauvin, Gulf Island Fabrication's CEO. "Because of the positive changes we see in Louisiana, our board of directors is committed to staying and expanding in Houma." The state has awarded the company $2.3 million in performance-based financial assistance.

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