CF Industries announces $2.1B expansion

CF Industries, a major fertilizer maker, is planning to build a $2.1 billion expansion at its nitrogen complex located next to the Mississippi River in Ascension Parish. The capital improvements project is expected to create 93 new jobs with an average salary of $56,500 plus benefits, state economic development officials say. “CF Industries could have invested in another state, but they chose to expand here because of our strong business climate, abundant supply of natural gas, world class infrastructure and incomparable workforce,” Gov. Bobby Jindal says. Based in Deerfield, Ill., CF Industries operates seven nitrogen facilities in the U.S. and Canada, and the Donaldsonville site is the largest nitrogen complex in North America, the company says. To land the deal, LED is providing the company an incentive package that includes a $3 million Modernization Tax Credit, payable over five years; a performance-based $2 million Economic Development Loan Program award that is forgivable if the company meets payroll targets; and the services of the LED FastStart workforce development training program.