International-Matex Tank Terminals, a North American leader in bulk-liquids handling and storage, will expand its headquarters in the Central Business District of New Orleans, Louisiana. The $1.3 million project will create 42 new direct jobs by 2020.
The company will expand its facility, located at 400 Poydras Plaza, from approximately 27,000 square feet to more than 33,500 square feet. The location provides corporate support for approximately 1,000 IMTT employees across North America.
“Following our change in ownership, we are relocating certain back-office functions from Texas to New Orleans,” company CEO Carlin Conner said. “IMTT was founded in New Orleans over 80 years ago and we have a long and cherished history with the city. We are excited to maintain and expand our corporate headquarters here.”
LED and its economic development partners began formal discussions with IMTT about a potential headquarters expansion in late 2020. To secure the project, the State of Louisiana offered IMTT a competitive incentive package that includes performance-based grants of up to $475,000, to be paid in annual installments over five years. IMTT also will receive the comprehensive workforce solutions of the nation’s No. 1 state workforce training and talent attraction program, LED FastStart. In addition, the company is expected to utilize Louisiana’s Quality Jobs Program.
“GNO Inc. is thrilled to have been able to work with IMTT to keep their headquarters in New Orleans,” said President and CEO Michael Hecht of Greater New Orleans Inc. “With over eight decades in the region, IMTT is a fixture in the trade and logistics economy. We are thrilled that IMTT will be adding over 40 jobs, and helping to lead the way to further growth on the Mississippi River.”
In December 2020, asset management firm Riverstone Holdings LLC acquired IMTT from Macquarie Infrastructure Corp. Company leadership evaluated options ranging from retaining some of Macquarie’s shared-services employees in the Dallas area to relocating headquarters to Houston. Ultimately, they identified growing in New Orleans as the best option.
“Successful entrepreneurs have been building great businesses right here in New Orleans for generations,” said President and CEO Quentin Messer Jr. of the New Orleans Business Alliance. “This announcement is further evidence that New Orleans remains a city with great entrepreneurs and a talented workforce. IMTT’s commitment to keep their headquarters in New Orleans and create new opportunities here demonstrates that the city continues to be a premier location for companies in the transportation and energy sectors. New Orleans Business Alliance looks forward to ensuring IMTT’s continuing success and cannot wait to recruit additional jobs to our city.”
Four of IMTT’s 19 terminal operations are located in Louisiana, with sites in Avondale, Geismar, Gretna and St. Rose. Company terminals serving the Lower Mississippi River and the New York Harbor each represent about one-third of IMTT’s storage capacity, with the remainder distributed across other sites in the U.S. and Canada. IMTT handles distribution and storage of petroleum, biofuels, commodity and specialty chemicals, and vegetable and tropical oil products.