With hopes of capitalizing on Louisiana’s burgeoning industrial boom, a Birmingham, Alabama-based firm will invest $9.75 million to build its first metal galvanizing plant in the state, company officials and Gov. Bobby Jindal announced this afternoon.
Metalplate Galvanizing plans to construct the 50,000-square-foot facility in Jennings, a city of roughly 10,000 residents in Jefferson Davis Parish, where company officials and Jindal today touted the investment and the 104 new direct jobs it is expected to create.
“This new plant will be the largest of Metalplate’s seven galvanizing plants located across the Southern U.S.,” says company chairman Hartwell Davis in a prepared statement. “Metalplate recognizes the very large and enduring growth potential of energy-related industry in Louisiana and in particular along its I-10 corridor. We see a great need developing for hot-dip galvanizing at both new industrial operations and expansions of existing plant facilities.”
Through hot-dip galvanizing to protect metal from corrosion, Metalplate Galvanizing serves customers in steel, petrochemical and other industries. Its six other facilities are located in Atlanta, Houston and Jacksonville, Florida.
Along with the more than 100 new direct jobs Louisiana Economic Development estimates the plant will create, at an average annual salary of $46,300 plus benefits, another 245 new indirect jobs are also expected to be created. The company estimates the project will generate 50 construction jobs as well.
To secure the investment, the state is providing Metalplate Galvanizing an incentive package that includes the use of the state’s Quality Jobs and Industrial Tax Exemption programs. The former program provides a cash rebate of up to 6% of a company’s payroll for up to a decade, while the industrial exemption program offers a full abatement of local property taxes on new capital investments for up to 10 years. LED has more details on today’s announcement.
—Steve Sanoski
