Terminal expansion in St. James Parish planned

A $365 million expansion of NuStar Energy LP’s crude oil terminal on the Mississippi River in St. James Parish is expected to create 32 new jobs. The San Antonio-based Fortune 500 company and Gov. Bobby Jindal announced the expansion today, saying the new jobs will pay an average of $98,000 annually with benefits. NuStar will also keep 23 existing jobs at its St. James tank farm. Work on the expansion—which will increase NuStar’s tank storage capacity from 8 million barrels to 11 million barrels—is expected to be complete in 2016. NuStar will receive a modernization tax break from the state worth $3 million over five years, plus an exemption from local property taxes and a payroll rebate from the state for creating high-paying jobs with benefits, according to the governor’s office. The state began working with NuStar more than a year ago to secure the expansion project. Combined with earlier investments by NuStar and future expansion plans at the site, the company anticipates spending $505 million on capital improvement projects at the St. James terminal over a five-year period. “Today’s announcement shows our strong commitment to retaining and growing existing Louisiana companies so we can create more opportunities for our people here at home,” says Jindal. “NuStar’s investment also reinforces Louisiana’s well-deserved reputation as the energy gateway to North America.”