Thursday, 25 June 2015 13:11
Jindal continues economic development tear with Monsanto, Insitu Data Solutions
 

gov-mansionYesterday, the day that Louisiana Governor Bobby Jindal announced his candidacy for US President, the governor made another economic development announcement that could haul in a one-billion dollar deal involving Monsanto.  Today, JIndal  made another announcement, involving Insitu Data Solutions in Lafayette.

 

Below are two press statements from the Jindal administration:

Today, Governor Bobby Jindal and Managing Director Stefano Gaeta of Insitu Data Solutions Inc. announced IDSI’s decision to open a manufacturing and service center in Lafayette to serve global oilfield services customers. IDSI will engineer, manufacture and market next-generation equipment for cased-hole data acquisition. The project will create 17 new direct jobs averaging more than $46,400 per year, plus benefits. Louisiana Economic Development estimates the project will result in an additional 22 new indirect jobs, for a total of 39 new jobs in the state.

Canadian-based IDSI – headquartered in Calgary, Alberta – will locate its manufacturing and service center in the Louisiana Immersive Technologies Enterprise facility on the University of Louisiana at Lafayette campus.

Governor Jindal said, “IDSI brings cutting-edge research and development work and manufacturing technology to one of the most advanced economic regions in Louisiana. We won this project in competition with other states and nations, and we’re proud that Louisiana’s best-in-the-nation business climate and quality of life attracted IDSI to do business here, when it could have chosen other global energy regions. This announcement confirms Louisiana’s outstanding competitive advantages in energy workforce, business climate and quality of life. We’re excited about the potential that this company brings to our state and the career opportunities it will provide for Louisiana families.”

Over the past two years, IDSI has developed and refined its products at a research and development facility at Plymouth in the United Kingdom. The company considered a number of locations for its manufacturing and service operations, including Canada. Lafayette will be home to those operations and will serve as the headquarters for Insitu Data Solutions Americas, a subsidiary of IDSI.

“In looking for a location to set up IDSA’s North American headquarters and facilities, we were introduced to Lafayette,” Gaeta said. “We thought we were coming to visit, but really it was like coming home. The Lafayette community is extremely attractive for new businesses, and we are committed to creating a best-in-class business for all of our activities.”

LED began discussing site selection and project possibilities with IDSI in March 2015. To secure the project, the State of Louisiana offered the company a competitive incentive package that includes the comprehensive services of LED FastStart® – the nation’s No. 1-ranked state workforce development program. In addition, IDSI is expected to utilize the state’s Quality Jobs Program.

“This is why we work on international relationships,” Lafayette City-Parish President Joey Durel said. “We know that Canadians visit our state more than any other nationality. Nurturing some of our shared heritage is a natural, and can lead to economic benefits to both sides.”

“The energy sector is the backbone of Acadiana’s economy; and we are extremely excited when a new energy company comes to the region,” said President and CEO Gregg Gothreaux of the Lafayette Economic Development Authority. “Historically, the energy sector has been on the cutting edge of technology innovations and IDSI is a great example of that innovation. We welcome IDSI to Lafayette and look forward to working with the company as they grow and expand in Lafayette for many years to come.”

MONSANTO

Today, Governor Bobby Jindal and Monsanto President and Chief Operating Officer Brett Begemann announced the company’s decision to begin its preliminary investment in an expansion of its St. Charles Parish operations in Luling. Pending a final investment decision by the company board in early 2016, Monsanto potentially could invest more than $1 billion over the course of three to five years to support its Roundup Ready® Xtend Crop System.

In addition to retaining 645 current jobs at the site, the project would create 95 new direct jobs. The new direct jobs would average $76,500 per year, plus benefits. Louisiana Economic Development estimates the project would result in an additional 450 new indirect jobs in the state, for a total of more than 540 new jobs. The company estimates development of the project would generate 1,000 construction jobs at peak building activity.

Governor Jindal said, “Monsanto has pursued a successful strategy of growth, diversification and sustainability in its production of agricultural products in our state. We’re proud that this global leader in agriculture has chosen Louisiana over other states and nations for this potential project. Monsanto’s selection of Louisiana speaks to the company’s confidence in our state as an outstanding business climate. This investment not only would retain hundreds of valuable jobs in our state but provide many more great career opportunities for Louisiana families.”

The production of branded crop protection products, including the active ingredient dicamba, at Monsanto’s Luling site is expected to play an important role in helping farmers produce better harvests and meet the global demand for food. With initial use in soybean and cotton crops, the Roundup Ready® Xtend Crop System dicamba-based products are targeting application across the Americas.

“We have a long and successful partnership with St. Charles Parish and Louisiana,” Begemann said. “Our Luling facility is a logical site uniquely positioned at the center of Monsanto’s manufacturing network, with convenient access across the Americas where the Roundup Ready® Xtend Crop System has a fit. The state’s highly skilled workforce and business-friendly environment also put Louisiana at the top of our list for this potential expansion.”

LED began formal discussions about the project with Monsanto in March 2015. To secure the project, the State of Louisiana offered Monsanto a performance-based Modernization Tax Credit of $5 million, along with a performance-based $1.7 million Economic Development Award Program grant to reimburse rail and electrical infrastructure costs associated with the expansion. The company also would receive the comprehensive solutions of LED FastStart® – the nation’s top-ranked state workforce development program. In addition, Monsanto is expected to utilize Louisiana’s Quality Jobs and Industrial Tax Exemption programs.

“We are pleased that Monsanto is considering an expansion in St. Charles Parish,” said Parish President V.J. St. Pierre Jr. “We pride ourselves on having an excellent working relationship with industry in the area, and we welcome the jobs and economic growth that this endeavor would bring to our parish.”

Monsanto’s expansion would be the latest in a series of recent expansion projects related to the company’s St. Charles Parish operations. In March 2010, the Luling site marked the completion of a $196 million expansion that resulted in 26 new direct jobs and an estimated 166 new indirect jobs. Within the past five years, Air Products and Hexion have built production facilities at the Luling site to supply raw materials to support Monsanto’s operations.

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