German-based Benteler Steel/Tube Plans $900 Million Investment In Northwest Louisiana Steel Tube Mill
In one of the largest industrial projects ever development in northwest Louisiana, German-based Benteler Steel/Tube will open a $900 million steel tube mill on 330 acres at The Port of Caddo-Bossier, creating an estimated 675 jobs.
"We are pleased to select Louisiana as the site for Benteler Steel/Tube's first U.S. production plant," Jaeger said. "The talented workforce, welcoming business climate and important geographic proximity to North America's energy corridor were all important factors in our decision to locate here.” Benteler's analysis of Oil Country Tubular Goods markets in the U.S. shows strong demand through 2035, as the nation reduces energy imports and increases domestic production.
Gov. Bobby Jindal said, "This is a huge win for our state as it will be one of the largest industrial projects in the history of Northwest Louisiana that will change the face of this area's economy. Benteler considered building this new project in a dozen other states, but chose Louisiana because we are in the heart of America's energy corridor, have one of the best business climates in the country, have a world-class transportation infrastructure, and because we have the best workers in the world. This project will bring valuable foreign direct investment to Louisiana, help increase our country's energy independence, and create thousands of new career opportunities for Louisianians."
Louisiana Economic Development offered Benteler a customized incentive package that includes performance-based grants totaling $57.4 million to reimburse site development, infrastructure and equipment costs incurred by the port and the company over the next few years of construction and operations; a performance-based grant of $12.75 million to reimburse certain relocation and internal training expenses; and the development of a new training facility and specialized equipment focused on manufacturing technology to be built on the campus of the Bossier Parish Community College.
In addiiton Red River Waterway Commission will contribute $6 million, The Port of Caddo-Bossier will contribute $3 million, and the Caddo Parish Commission will contribute $2.6 million, all for infrastructure improvements at the port required to support the new facility. "The Caddo Commission is pleased to assist with the infrastructure improvements and tax abatement for the project in order to increase the number of jobs in Caddo Parish and further economic development in the region," said President Michael Thibodeaux of the Caddo Parish Commission.
In addition, Benteler Steel/Tube Manufacturing Corp., the U.S. entity operating the Shreveport site, will receive the services of LED FastStart, the state’s workforce-training program. The company also is expected to utilize Louisiana's Quality Jobs and Industrial Tax Exemption incentive programs. The Greater Bossier Economic Development Foundation, the City of Bossier City and the Bossier Parish Police Jury will contribute a combined $1 million, of the $22 million total, to provide road and other infrastructure improvements needed for the new training center.
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