Criterion Catalysts & Technologies LP, a manufacturer of chemicals used in refining petroleum, will invest approximately $250 million to continue an expansion of its Port Allen, Louisiana, plant, according to the Louisiana governor's office. The company will hire at least 53 additional employees as part of the project, with positions paying an average salary of $59,000 per year plus benefits; there are currently 17 employees. The money will be used in part to refurbish a dormant water well and pay for a new drilling well. "The decision to locate Criterion's world-class manufacturing facilities at Port Allen has been embraced by both the state and parish as a valuable economic development project," says Bill Howell, Criterion's venture manager. "It is this type of support that facilitates Criterion's vision of making the Port Allen manufacturing facilities a reality." The state will provide incentives that include $1.2 million in performance-based financial assistance.
All contents copyright 2022 Halcyon Business Publications, Inc.