Three major industrial projects totaling over $4.2B were approved for tax breaks by the Louisiana Commerce and Industry Board.
Louisiana had $7.3B in international investment 2021
The board approved tax breaks for CF Industries' $2B blue ammonia plant, Origin Materials' $750MM sustainable plastics plant, and Shell subsidiary Equilon Enterprises' $1.5B low-carbon fuels project, as reported by the Advocate.
Of the 16 projects approved by the board, CF Industries, Origin Materials and Equilon Enterprises made up most of the $4.8B investment.
CF Industries will receive nearly $24.9MM in first year tax breaks. The Ascension Parish project is expected to create 88 permanent jobs with an average salary of about $120,000 and 1,500 construction jobs.
Origin Materials will receive about $9.6MM in first year tax breaks. The Ascension Parish project is expected to create 200 permanent jobs with an average salary of $99,000 and 500 construction jobs.
Equilon Enterprises will receive $19MM in first year tax breaks. The projects, located in Ascension and St. James parishes, are expected to create 51 permanent jobs with an average salary of over $90,000 and 610 construction jobs.
"Shell will utilize the proprietary renewable refining process technology to convert crop oils, animal fats used cooking oil and other bio based waste oils into low carbon intensity transportation fuels," said Kirk Kallenberger, general manager of Shell’s Convent site during the board meeting. "This approximately $1.5 billion project will bring 51 new direct jobs to the site between ascension and St. James parishes."
"Shell's broader energy transition plans include a suite of potential projects at all of its existing U.S. Gulf Coast facilities pending final investment decision and underpinned by carbon capture sequestration here in Louisiana," Kallenberger continued. "The Convent facility will essentially become the hub for many of these projects. Shell has a great relationship with the state of Louisiana and with the communities in which we operate, which positions us well for new growth in the transition to low carbon fuels and products."
