Stupp Corp. announced that the company will invest $22 million to upgrade its two steel pipe manufacturing plants in Baton Rouge.
Stupp Corp. is a family-owned company that has operated in north Baton Rouge since 1952. The company provides custom pipe for the transport of oil and natural gas, along with other services for the energy industry.
The expansion project will create 128 new direct jobs at an average annual salary of $60,567, plus benefits, while retaining 338 existing jobs at the Baton Rouge facility. Louisiana Economic Development estimates the project also will result in 296 indirect jobs, for a total of 424 new jobs for East Baton Rouge Parish and the Capital Region. Stupp estimates the expansion activity will support 93 construction jobs.
LED began working with Stupp Corp. on expansion opportunities in October 2018.
To secure the project, LED offered the company a competitive incentive package that includes the comprehensive workforce solutions of LED FastStart®, the No. 1 state workforce development program in the U.S. In addition, the state offered a performance-based grant of $500,000 to offset the cost of roadway improvements for increased truck traffic that the expansion will create. The company also is expected to utilize the state’s Quality Jobs and Industrial Tax Exemption programs.