50 feet deep: A $200 million project to deepen the main channel of the Mississippi River to 50 feet from the Port of Greater Baton Rouge to the Gulf of Mexico has won further support from the Army Corps of Engineers after getting approval last week. James Dalton, the corp’s civil works director, says making the channel five feet deeper will result in annual benefits of upward of $100 million to the nation’s economy, compared to average annual costs of $17.7 million. Read the full story.
Grounded: Louisiana has terminated an incentives agreement with Bell Helicopter, saying the company failed to live up to manufacturing and job commitments at a $26.3 million state-funded facility in Lafayette, LED announced. State officials said that under terms in the agreement—inked under former Gov. Bobby Jindal’s administration in 2013—allowing termination for cause, the state is entitled to a $16 million payment from the Fort Worth, Texas-based company and expects to separately pursue additional damages.
Cool beans: Soybeans are a $700 million industry in Louisiana, making it second largest row crop industry, just behind sugar cane. So when China—where about 57% of Louisiana’s beans are exported—imposed a tax on imported soybeans, it put a financial strain on farmers across the state, WRKF-FM reports. Earlier this summer, a bushel of soybeans was selling for about $10.50. That price quickly dropped by about $2 when China’s tariff were announced. Read the full story.
