Exxon plans $215M in local facility upgrades

Exxon Mobil Corp. says it will break ground later this year on a state-of-the-art synthetic aviation oil blending center in Port Allen, as part of $215 million worth of capital improvements and expansions at its facilities in Baton Rouge and across the Mississippi River. All told, the work is expected to create 400 construction and full-time jobs over the next two years. It’s also expected to make the company’s Baton Rouge plant the world’s largest producer of finished lubricants used in motor oils, gear oils and greases. The expanded 8.3-acre plant will replace an existing manufacturing facility in New Jersey. Exxon currently operates more than 30 facilities in Louisiana. Gov. Bobby Jindal joined Exxon officials in Port Allen today to make the announcement. The project represents the culmination of nearly $1 billion in Louisiana capital investments by Exxon over the past three years, according to LED. To secure the project, the state is giving Exxon a Modernization Tax Credit valued at $1.8 million over five years, and it will also benefit from LED’s FastStart workforce development and training program. Exxon is also expected to use other tax incentive programs to offset some project costs. The expansion and upgrades are expected to be complete sometime in 2014. LED has the full details here.