Monsanto Announces Potential $1 Billion Expansion In Luling, Louisiana
06/24/2015
In addition to retaining 645 current jobs at the site, the project would create 95 new direct jobs, said Louisiana Economic Development. The production of branded crop protection products, including the active ingredient dicamba, at Monsanto’s Luling site is expected to play an important role in helping farmers produce better harvests and meet the global demand for food, LED officials said. With initial use in soybean and cotton crops, the Roundup Ready Xtend Crop System dicamba-based products are targeting application across the Americas.
“We have a long and successful partnership with St. Charles Parish and Louisiana,” Monsanto President/COO Brett Begemann said. “Our Luling facility is a logical site uniquely positioned at the center of Monsanto’s manufacturing network, with convenient access across the Americas where the Roundup Ready Xtend Crop System has a fit. The state’s highly skilled workforce and business-friendly environment also put Louisiana at the top of our list for this potential expansion.”
To secure the project, the State of Louisiana offered Monsanto a performance-based Modernization Tax Credit of $5 million, along with a performance-based $1.7 million Economic Development Award Program grant to reimburse rail and electrical infrastructure costs associated with the expansion. The company also would receive the comprehensive solutions of LED FastStart – the nation’s top-ranked state workforce development program. In addition, Monsanto is expected to utilize Louisiana’s Quality Jobs and Industrial Tax Exemption programs.
Governor Bobby Jindal said, “Monsanto has pursued a successful strategy of growth, diversification and sustainability in its production of agricultural products in our state. We’re proud that this global leader in agriculture has chosen Louisiana over other states and nations for this potential project. Monsanto’s selection of Louisiana speaks to the company’s confidence in our state as an outstanding business climate. This investment not only would retain hundreds of valuable jobs in our state but provide many more great career opportunities for Louisiana families.”
“We are pleased that Monsanto is considering an expansion in St. Charles Parish,” said Parish President V.J. St. Pierre Jr. “We pride ourselves on having an excellent working relationship with industry in the area, and we welcome the jobs and economic growth that this endeavor would bring to our parish.”
Project Announcements
Kikkoman Foods Plans Jefferson, Wisconsin, Operations
04/26/2024
BWX Technologies Expands Cambridge, Ontario, Nuclear Production Operations
04/26/2024
Greenheck Group Plans Knoxville, Tennessee, Operations
04/26/2024
Local Bounti Plans Pasco, Washington, Indoor Agricultural Operations
04/26/2024
Innovative Construction Group Plans Siler City, North Carolina, Production Operations
04/26/2024
Crystal Window and Door Systems Plans Mansfield, Texas, Headquarters-Production Operations
04/25/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024