Company to spend $41.1 million
Newpark Mats and Integrated Services announced Thursday it will spend $41.1 million to double the size of its Carencro manufacturing facility, a move that will create 35 new jobs.
Louisiana Economic Development officials said 29 of the jobs will be at the Newpark Mats manufacturing facility and will have an average salary of $36,600, plus benefits.
Six jobs will be at the company’s research and development and technology center and will have an average salary of $80,000, plus benefits.
The project is estimated to create 71 indirect jobs and 35 construction jobs.
Newpark Mats makes interlocking composite mats that are used as temporary roads and work sites in the oil and gas industry.
The mats are also used for military exercises, at construction sites and for entertainment productions.
Construction of the 50,000-square-foot expansion is set to start in early 2014 and the project should be completed by the end of 2015. Newpark Mats plans to start hiring employees for the expansion in early 2014.
Newpark Mats is a division of Newpark Resources Inc, a worldwide provider of drilling fluids, temporary worksites and access roads for oilfield and other commercial markets, and environmental waste treatment solutions. Newpark Resources, based in The Woodlands, Texas, has 270 employees in Louisiana.
Newpark Mats started discussing the expansion with LED’s Business Expansion and Retention Group in June. LED joined with Lafayette Economic Development Authority to keep the company in Carencro.
The state offered an incentives package that includes a $1.6 million Modernization Tax Credit and the services of LED’s FastStart workforce training program.
Newpark Mats is expected to use the state’s Quality Jobs, Industrial Tax Exemption and Research & Development Tax Credit programs.