The Louisiana Commerce and Industry Board today approved the applications of several potential investment projects in Louisiana under the new Industrial Tax Exemption Program guidelines.
The largest of these is a $400 million new construction project from ExxonMobil at its polyolefins complex in north Baton Rouge. The project is expected to create some 65 jobs, a company spokesperson previously told Daily Report.
Other capital area plants receiving approval Wednesday included Taminco (Eastman), Blue Cube (Olin), YCI Methanol One, and Americas Styrenics.
In addition to the ExxonMobil project, there are more than $20 billion of industrial projects planned in the Capital Region, according to Connie Fabre, executive director of the Greater Baton Rouge Industry Alliance. Some of those projects have already earned ITEP approval and are moving forward, while others have yet to make an application.
The approval of Exxon’s project, among others, was the first steps in making the state more competitive, as well as attracting new projects and jobs to the Capital Region, says Fabre.
