Moret: Handful of large industrial projects in pipeline for La.
Louisiana Economic Development Secretary Stephen Moret predicts Louisiana will land at least five major, new industrial construction projects over the next 12 to 18 months, the bulk of which he expects will be located in south Louisiana between Baton Rouge and New Orleans. The state is actively working on about 10 major industrial construction projects—those with a capital investment of $500 million or more—and Moret anticipates that more than half of those will come to fruition. "I am confident that barring a dramatic slowdown in the global economy or a significant adversarial policy from the Obama administration on fracking technology, we will see an industrial construction boom of tens of billions of dollars, largely in south Louisiana," Moret tells Daily Report. Some of the deals are apparently close to being finalized but are so large in scale they need to clear several regulatory hurdles before being inked. Several other projects are already off the ground, including the construction of the Nucor steel facility in St. James Parish and the Sasol gas-to-liquids fuel complex near Lake Charles. Moret points to Louisiana's strong industrial construction labor base as one of the key reasons the state is so well positioned to land such projects. "We're going to have several multibillion-dollar construction projects under construction at the same time," Moret says. "It's going to be a really good time for Louisiana." —Stephanie Riegel
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