Calcined Petroleum Coke Producer, Rain CII, Relocates to Covington, Louisiana
10/31/2013
Rain CII Carbon LLC, which produces calcined petroleum coke, an essential element in making aluminum, will make a capital investment of $65 million during the next five years across its Louisiana manufacturing, research and logistics facilities.
The company was formerly headquartered in the New Orleans area before moving to Texas as a result of facility damage incurred from Hurricane Katrina. Company officials said Rain CII is moving back to Louisiana, with operations scheduled to begin the final quarter of next year, because of the state’s successful business climate and quick recovery of the Greater New Orleans area.
“Greater New Orleans is the historic home of our company, and a natural location for our headquarters,” Rain CII CEO Gerry Sweeney said. “With four plants in Louisiana, it affords the best blend of proximity to our operations, quality of life for employees, and exposure to the cultural events of a larger city. We are thankful for the support and partnership of the State of Louisiana in helping make this return a reality.”
“Rain CII’s return to Greater New Orleans is a double-win for Louisiana,” said President and CEO Michael Hecht of Greater New Orleans Inc. “First, it means over 70 high-quality new jobs for the community. But moreover, Rain CII’s return to the region heralds a broader, deeply important trend – the best people and companies are coming home to Greater New Orleans.”
Gov. Bobby Jindal said, “Few projects demonstrate Louisiana’s extraordinary progress and resilience since Hurricane Katrina like this Rain CII relocation project. Here is a company that was originally headquartered in the New Orleans area that is returning home – not simply because its roots are here, but because Louisiana now offers an outstanding business climate, a great workforce and a world-class infrastructure for business investment. Today, New Orleans and our entire state are thriving, and we make a winning case for corporate headquarter relocations, high-performing manufacturing wins and technology projects. Most importantly, Rain CII’s return home to Louisiana will mean outstanding career opportunities for Louisianians for years to come.”
Louisiana Economic Development said Rain CII has made significant capital investments in Louisiana since 2010, investing more than $100 million on projects across the state to equip its operations for the long term. Among those investments is an energy co-generation facility completed earlier this year in Lake Charles, where 15 jobs were added to support the company’s new power plant.
To secure the project, the state offered Rain CII a competitive incentive package that includes a $3.6 million performance-based grant, to be paid in four annual installments, for offsetting headquarters relocation costs. Rain CII will be eligible for a $2 million Modernization Tax Credit, to be claimed over five years, after making the $65 million plant capital investment. The company also will receive the services of LED FastStart, the state’s workforce development program. Rain CII is also expected to utilize Louisiana’s Industrial Tax Exemption and Quality Jobs programs.
“We welcome Rain CII’s return to Louisiana, and we are honored they have chosen St. Tammany Parish for their corporate headquarters,” said CEO Brenda Bertus of the St. Tammany Economic Development Foundation. “As always, we are ready to assist Rain CII and its employees as they join our community and embrace our quality of life.”
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