Executives from J&M Industries were joined by Gov. Bobby Jindal today to announce the company’s plan to invest $4.5 million to construct a 120,000-square-foot expansion to its tarp manufacturing facility in Ponchatoula.
Louisiana Economic Development estimates the project will retain 107 existing jobs, create 30 new direct jobs with an annual average salary of $33,700, and spur an additional 23 indirect jobs. The company estimates the expansion also will create 20 construction jobs.
LED says it has been working with J&M since August to secure the expansion investment. The state is providing the company an incentive package that includes workforce development assistance through the LED FastStart program. The company also is expected to take advantage of the state’s Quality Jobs and Industrial Tax Exemption programs. The former program provides a cash rebate of up to 6% of the company’s payroll for up to a decade for new jobs created, while the latter offers a full abatement of local property taxes for up to a decade on new capital investments. LED has more details on today’s announcement.
