Performance Energy Services, a service provider to the offshore oil and gas industry, will invest $26 million to expand its facilities at the Port of Terrebone in Houma, Louisiana, according to the Louisiana governor's office. The company plans to hire 350 new workers at an average annual salary of $55,000 plus benefits. The expansion will accommodate a topside deck and marine repair yard. "We have worked on this project with many local and state officials and are very pleased to see all of the hard work result in a positive change in Louisiana, creating more jobs and helping the local economy," says Ricky LaGrange, CEO of Performance Energy Services. "We could never imagine a time in which Performance Energy Services would not want to call Terrebone Parish home." Construction is expected to begin in the third quarter of this year, to be completed by the second quarter of 2010. The Advocate newspaper and WBRZ-TV of Baton Rouge report on their joint website that the company has been offered $5 million worth of incentives from the state: a $3.3 million economic development award, $1.1 million in Enterprise Zone payroll incentives, and $600,000 in waived sales taxes.