Wednesday, 15 September 2010 20:48

Louisiana LED Sec. Moret: Nucor Could Break Ground In Early 2011

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Louisiana landing Nucor in an extremely competitive process is a major victory for Louisiana, the Administration of Governor Bobby Jindal and LED Secretary Stephen Moret and the entire Louisiana Economic Development team. It is a project the group have been working upon from the early days of the Jindal administration.

Bayoubuzz asked Stephen Moret these questions via email after the state and Nucor make the announcement. 

Bayoubuzz: What do you think will be the first signs that will directly help Louisiana workers that Nucor is benefiting the region?  Will there be immediate results and if so, what might they be?

Stephen Moret: This definitely is a great day for St. James Parish and our entire state!  Nucor will break ground on the first phase of the five-phase project as soon as it completes environmental permitting, which we currently expect will be early 2011.  It is possible they will begin site preparation activities even sooner.  

If they complete all phases of the project described in their incentive package with the state (which they must do to receive the complete state incentive package), the project ultimately would represent about 1,250 direct new jobs ($75,000 average, plus benefits) and $3.4 billion in new capital investment.

Once they have completed the steel mill (which is not the first phase), we expect to be able to recruit additional companies that would take advantage of being located in close proximity to the project.

Nucor Picks Louisiana For Iron Making Facility

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