Geismar to receive new jobs due to $700 million investment at chemical plant

Geismar to receive new jobs due to $700 million investment at chemical plant
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GEISMAR, La (BRPROUD) – One of the largest chemical companies in the world has announced a final investment decision on a $780 million project to double production capacity at a chemical manufacturing complex in Ascension Parish.

This marks the third and final phase of the expansion plan.

BASF will retain more than 1,000 existing jobs, adding 37 new direct jobs with average annual salaries from $86,600 to $105,600 per year, plus benefits. LED estimates that the total project plan will result in 147 new indirect jobs, totaling 184 new jobs in the Capital region.

“BASF is one of the largest chemical companies in the world, and this substantial reinvestment in its Geismar complex speaks volumes about the strength of Louisiana’s advanced manufacturing sector,” Gov. John Bel Edwards said. “By increasing production of a material vital to the creation of energy-efficient products, BASF has positioned our state as an important contributor to the global sustainability supply chain. That is a win for workers and their families in the Capital Region, and for the state’s economy as a whole.”

Upon completion, BASF’s Geismar Verbund site – signifying the physical integration of production, market platforms, and technologies that tie the business together – will be able to produce 600,000 metric tons per year of methylene diphenyl diisocyanate (MDI). MDI is an important component for polyurethanes, a versatile, lightweight plastics material used for insulation and a variety of other industrial and consumer products.

“BASF is one of the largest chemical companies in the world, and this substantial reinvestment in its Geismar complex speaks volumes about the strength of Louisiana’s advanced manufacturing sector,” Gov. John Bel Edwards said. “By increasing production of a material vital to the creation of energy-efficient products, BASF has positioned our state as an important contributor to the global sustainability supply chain. That is a win for workers and their families in the Capital Region, and for the state’s economy as a whole.”

The company said in its announcement that the seven-year expansion project – representing more than $1 billion in combined capital investment – will allow it to meet growing North American demand for its products in construction, appliance, transportation, automotive, and other sectors.

Construction will begin this year and is expected to be complete by mid-2025. The expanded facility will utilize leading-edge technology that combines the highest safety standards with advanced digitalization in its operations, the company said.

To secure the final phase of the BASF expansion project, the State of Louisiana offered a competitive incentive package that includes a $1 million Retention and Modernization Tax Credit, to be claimed in equal installments over five years.

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Mary founded Scoop Tour with an aim to bring relevant and unaltered news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research. With ample knowledge about the Automobile industry, she also contributes her knowledge for the Automobile section of the website.

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