SE Tylose To Make $120 Million Investment Louisiana Plant
SE Tylose, a sister company of Japan-based Shintech, will produce hydroxyethyl cellulose used chiefly for latex paints to create water-soluble coatings, adjust viscosity, improve adhesiveness and prevent sedimentation of the colorants.
The Iberville Parish project located on River Road in Plaquemine, Louisiana will create 30 jobs with an average annual salary of $58,000, while helping to retain 270 Shintech jobs. Louisiana Economic Development officials estimate the project will also result in 290 new indirect jobs.
Gov. Bobby Jindal said, "SE Tylose saw the value of investing in our state, because Louisiana has an outstanding business climate, the best workforce in the world and a manufacturing and transportation infrastructure second to none." He added this is "great news for Iberville Parish and further proof that we are generating strong momentum for our state's economy and creating more opportunities for our children and grandchildren to pursue their dreams right here at home."
"We are excited to be able to attract this project to Plaquemine and Louisiana," said Shintech Louisiana Vice President David Wise. "It's a tremendous opportunity for our area. We've experienced great success in Louisiana and the Capital Region, and we have every confidence that the outstanding business climate and quality infrastructure in Louisiana will only lead to greater outcomes for Shintech, for SE Tylose and for our state and local partners."
SE Tylose expects to begin construction on the plant by the end of 2012, once the appropriate regulatory permits are obtained and start operations in early 2014.
The firm recived several state incentives, including a $1.86 million Modernization Tax Credit, and LED Fast Start customized screening, hiring and training services. SE Tylose also is expected to utilize Louisiana's Quality Jobs and Industrial Tax Exemption programs.
"We anticipate a sustained industrial expansion across South Louisiana over the next several years, predicated largely on abundant, affordable natural gas supplies and stemming from a growing chemical sector that includes global leaders like Shin-Etsu Chemical," said Secretary Stephen Moret of Louisiana Economic Development. "This reinvestment in our state is proof that our competitive incentives and rapidly improving business climate make Louisiana a clear choice for future business expansions and relocations."
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