Rolling on the river: Huntsman Corp. announced today plans to spend $78 million to expand its Geismar chemical facility by the end of 2014. The expansion will increase its output of methylene diphenyl isocyanate—known as MDI, a key component of polyurethanes—by 50 kilotons. State officials estimate the project will create 75 new direct and indirect jobs. The state is providing the Texas firm an incentive package that includes a $1.5 million Modernization Tax Credit, payable over five years. Gov. Bobby Jindal, who joined officials to announce the project, has more details at his website here.
In limbo: State officials have stalled a decision on whether the state’s property insurer of last resort should borrow $100 million to help close an anticipated budget gap. The Bond Commission, which includes lawmakers and statewide elected officials, didn’t take any action today on the request from the board for the Louisiana Citizens Property Insurance Corp. Gov. Bobby Jindal’s top financial adviser, Kristy Nichols, and Insurance Commissioner Jim Donelon disagree with the borrowing plan, saying Citizens has money available to cover its immediate costs.
Upon further review: Commissioner of Administration Kristy Nichols announced today the state is terminating its contract with CNSI for processing of Medicaid claims, effective immediately. “The state will work with the current contractor, Molina Medicaid Solutions, to provide services during this transition and until a new RFP, overseen by the Division of Administration, is completed,” Nichols says in a prepared statement. “We have asked the Inspector General to look into this matter and provide assistance. We have zero tolerance for wrongdoing, and we will continue to cooperate fully with any investigation.” A company that was competing for the contract, but not selected, had protested the state’s awarding the contract to CNSI, claiming the company had unfairly lowballed its bid.
