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Forum Energy Technologies Invests $19 Million in New Louisiana Manufacturing Plant, Creating 125 Jobs
Area Development Online News Desk (09/13/2012)
Forum Energy Technologies, which manufactures a wide spectrum of oil and gas equipment that serves the global energy industry's drilling, production and infrastructure segments, plans to invest $19 million in a 150,000-square-foot facility in Louisiana's St. Martin Parish to produce onshore and offshore drilling equipment for global customers, creating 125 new direct jobs.

Forum will replace an existing facility in nearby Broussard, La, with plans to retain 203 existing jobs. The Louisiana Department of Economic Development estimates the project will also create an additional 300 indirect jobs.

"We are very pleased to be expanding our presence in St. Martin Parish and Louisiana," said Chris Gaut, the chairman and CEO of Forum Energy Technologies. "We have a long history of manufacturing oilfield equipment here and have been very satisfied with the quality of the workforce available here."

Gov. Bobby Jindal said, "Forum Energy has a long history of providing jobs for our people in Acadiana, and we're proud the company chose to expand right here in our state. Forum Energy joins a long list of energy companies who are investing in Louisiana because of our world-class energy infrastructure, strong business climate and incomparable workforce."

The state began working with Forum on its expansion project in April. To secure the project, the state offered an incentive package that includes a $700,000 performance-based, Economic Development Award Program grant to fund drainage infrastructure improvements at the site off U.S. 90, adjacent to the SMEDA Business Industrial Park. In addition, Forum is expected to utilize incentives from the state's Quality Jobs and Industrial Tax Exemption programs.
 
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