VACHERIE, La. (AP) — Gov. Bobby Jindal says Texas and New Zealand companies plan a $1.3 billion methanol plant in St. James Parish.
He says that South Louisiana Methanol LP expects to have 63 employees earning an average of $66,500 a year.
Owners Todd Corp. of Wellington, New Zealand, and Zero Emission Energy Plant Ltd. — or ZEEP — of Austin, Texas, say it will be the largest methanol plant in the United States.
Louisiana Economic Development says the state is offering a performance-based $5 million grant for infrastructure costs and South Louisiana Methanol is expected to get tax exemptions for industry and for job creation.
Methanol is used to produce everyday goods such as plastics, polyester fibers and fabrics, pesticides, fuel additives, pharmaceuticals and adhesives for the wood products industry.