ST. MARTINVILLE — Forum Energy Technologies plans to build a new 150,000-square-foot facility in St. Martin Parish to produce onshore and offshore drilling equipment for global customers, the company and state officials said Wednedsay.
Forum Energy CEO Cris Gaut said the $19 million project will replace an existing facility in nearby Broussard.
The project will retain 203 existing jobs and create 125 new direct jobs with average annual salaries of more than $45,000, plus benefits.
State economic development officials estimate the project also will create an additional 300 new indirect jobs.
“We have a long history of manufacturing oilfield equipment here and have been very satisfied with the quality of the workforce available here,” Gaut said.
During Wednesday’s announcement, Gov. Bobby Jindal said the state began working with the company on its expansion project in April. To secure the project, the state offered an incentive package that includes a performance-based, $700,000 grant to fund drainage infrastructure improvements at the site off U.S. 90.
“Forum Energy has a long history of providing jobs for our people in Acadiana, and we’re proud the company chose to expand right here in our state,” Jindal said in a news release. “Forum Energy joins a long list of energy companies who are investing in Louisiana because of our world-class energy infrastructure, strong business climate and incomparable workforce.”
Construction will begin before the end of the year and be completed by the fourth quarter of 2013.
Forum will begin hiring during the construction phase, and all 125 new positions will be hired within five years.
Forum Energy, of Houston, manufactures a wide spectrum of oil and gas equipment that serves the global energy industry’s drilling, production and infrastructure segments.
The company has more than 3,300 employees worldwide in more than 80 locations.