Projects planned: Two companies will invest $274 million in upgrades to a paper mill and in construction of a new packaging and distribution center planned for Monroe, creating 93 new jobs, The Associated Press reports. Gov. John Bel Edwards announced the plans today with the CEOs of Graphic Packaging International and DHL Supply Chain, companies joining together for the investment and expansion. Graphic Packaging will upgrade its mill’s machines in West Monroe to supply paperboard for the new packaging and logistics center in Monroe. There, DHL will build the distribution facility and folding carton plant. Edwards’ office says Louisiana competed with Georgia, Arkansas and Mississippi to win the packaging and distribution center. Graphic Packaging and DHL will get millions in tax breaks under the deal. The facilities will open in phases over 2018 and 2019.
Going up: Weekly unemployment insurance claims for the week ending April 22 increased to 2,631 from the previous week’s total of 2,602, according to the latest data from the Louisiana Workforce Commission. For the comparable week a year ago, 2,684 initial claims were filed. The four-week moving average, a less volatile measure of claims, increased to 2,583 from the previous week’s average of 2,568. Continued unemployment insurance weeks claimed for the week ending April 22 increased to 21,810 from the previous week’s total of 21,714. Continued weeks claimed were below the comparable figure of 22,687 for the week ending April 23, 2016. Read the full report.
The same: Louisiana’s total tally of oil and gas rigs remains unchanged from one week ago. According to Houston-based oilfield services company Baker Hughes, the state still has 58 active rigs, 13 more than the comparable week one year ago when there were 45 rigs. The U.S. rig count, meanwhile, rose by 13 this week to 870. A year ago, 420 rigs were active. Baker Hughes says 697 rigs sought oil and 171 explored for natural gas this week. Two were listed as miscellaneous. In other major oil producing states, Texas added 11 rigs, Oklahoma gained three and Wyoming gained one. New Mexico lost three rigs. Alaska, Arkansas, California, Colorado, Kansas, North Dakota, Ohio, Pennsylvania, Utah and West Virginia were unchanged. The U.S. rig count peaked at 4,530 in 1981 and bottomed out last May at 404.
