BATON ROUGE, La. (AP) — A Louisiana plant plans to invest $332 million into an expansion project that would create about 81 new jobs.
News outlets report Formosa Plastics Corp. will begin construction in 2020 that will end by 2022. The expansion would create 500 temporary construction jobs.
The project includes new machinery and equipment that would up PVC resin production by an extra 300 million pounds per year, an increase of 20% in capacity and sales.
Plant Manager Paul Heurtevant says the expansion will create 15 new direct jobs with an average salary of about $77,000. Louisiana Economic Development says the expansion will also create 66 new indirect jobs.
The company initially considered its Texas plant for the expansion. The economic agency offered Formosa an incentive package that included a $500,000 performance-based grant.