American Tank Company will invest $2 million to build a new manufacturing facility in New Iberia, Louisiana
. The new facility will allow the company to improve efficiency in the production of bolted storage tanks for the oil and gas industry and other sectors. Through the project, Louisiana Economic Development said the company will create 47 direct and indirect jobs.
American Tank Company designs and manufactures its own line of field-erected bolted tanks. These storage tank solutions are applicable in the domestic and international oil and gas, wastewater, municipal water and dry bulk markets. Additionally, the company manufactures bolted-style factory coated walkways and stairways commonly used on oilfield storage facilities.
The company recently purchased 8 acres next to its existing New Iberia facility for the construction of the state-of-the-art fabrication center. The manufacturing and office space of the company will increase from 5,000 square feet to 20,000 square feet. The project will provide new equipment and enclose some manufacturing processes that previously were performed outdoors. The expansion of the company’s facility will allow it to serve Gulf Coast clients more efficiently while maintaining quality service and competitive prices for customers, LED said.
"Louisiana is and always will be the home of American Tank Company, Inc.,” said Larry Romero, President of American Tank Company. “Louisiana Economic Development has opened new doors of opportunity and provided incentives to accelerate our manufacturing expansion goals. American Tank Company, Inc. will work parallel with Louisiana Economic Development to create more manufacturing, engineering and construction jobs in Iberia Parish. The logistics of southern Louisiana play a significant role in our goal to increase our international exports. Our everyday goal is to improve the quality of life of our employees, one tank at a time.”
Gov. Bobby Jindal said, “The American Tank Company has grown with us as we’ve worked tirelessly to improve our state’s business climate and provide opportunities for our people, and today’s announcement is the latest example of their commitment to Louisiana. This company is a perfect example of the fortitude and ingenuity of Louisiana-based employers that have recognized the value of doing business in our state. For years, American Tank has demonstrated the confidence they have in our infrastructure, our strong business climate and our incomparable workforce – and today’s expansion is further proof of that commitment. Their growth will continue to support Louisiana’s economic momentum and create new job opportunities for future generations in Acadiana and throughout our state.”
To secure the expansion, the state offered the company a performance-based, $275,000 loan from Louisiana’s Economic Development Loan Program. American Tank is also expected to utilize the state’s Quality Jobs and Industrial Tax Exemption incentives. The expansion project will begin this summer, with an expected completion date in the second quarter of 2014.