Plans for $1.3B methanol plant in St. James Parish outlined

Gov. Bobby Jindal joined officials from a pair of Texas and New Zealand companies today to announce plans for a $1.3 billion methanol plant in St. James Parish. Located across the river from the Nucor Corp. project in Convent, the project will create 63 new direct jobs paying an average salary of $66,500 a year, plus benefits, officials say. LED also estimates the project will result in 374 new indirect jobs, for a total of more than 430 new jobs for the area. Austin-based Zero Emission Energy Plant Ltd.—or ZEEP—and New Zealand-based Todd Corp. are joint owners of the project, which they say will be the largest methanol plant in the United States. To secure the project, LED says the state is offering a performance-based $5 million grant for infrastructure costs. The companies are also expected to get tax exemptions for industry and for job creation. Methanol is used to produce everyday goods such as plastics, polyester fibers and fabrics, pesticides, fuel additives, pharmaceuticals, and adhesives for the wood products industry. Construction of the project will begin in the fourth quarter of this year, with hiring expected to begin in early 2015 and commercial operations to start in mid-2016.