Oxlean Manufacturing announced plans today to spend $2.1 million at its steel manufacturing plant in Walker to expand and modernize the facility. The company, which acquired the plant earlier this year, says it will install advanced robotic technology at the plant and use new sophisticated software to modernize production.
The state is providing the company an incentive package that includes a $200,000 performance-based, forgivable loan that will help offset the cost of upgrades, as well as assistance from Louisiana Economic Development’s FastStart workforce development and training program. The company is also expected to use the state’s Quality Jobs and Industrial Tax Exemption programs. The Quality Jobs program provides a cash rebate of up to 6% of a company’s payroll for up to a decade, while the Industrial Tax Exemption program provides full abatement of local property taxes for a decade on new capital investments.
LED estimates the expansion will create 73 new direct jobs at the plant, with an average salary of $55,000 annually, as well as 122 new indirect jobs in the Capital Region.
Equipment installation and initial construction on the expansion is already underway at the plant, which is located at 18348 Florida Blvd., and it is expected to be complete by the third quarter of 2016. The company has begun hiring for the new positions and expects to add 23 new employees by the end of next year. It expects to reach 73 total new hires over the next decade. LED says the investment announcement also retains 27 existing jobs at the plant. LED has more details, as well as comments from Gov. Bobby Jindal and Livingston Parish officials, who joined company officials at a press conference at the plant today to make the announcement. —Steve Sanoski
