Fibrebond Corp. will expand its northwest Louisiana precast concrete shelter business and create 225 jobs through 2018 after acquiring a dormant container mill next to Fibrebond’s manufacturing site in Minden.
Fibrebond will spend $2.5 million to renovate a 180,000-square-foot forest products mill once operated by International Paper and Temple-Inland.
The announcement was Monday made by Fibrebond President and CEO Todd Walker and Gov. Bobby Jindal.
The company already has 470 employees at its Minden headquarters and manufacturing operations.
Founded in 1982, Fibrebond produces customized concrete shelters for industrial and institutional customers. Precast utility shelters for the telecommunications industry spurred its early growth and is still a mainstay for the company. Other leading customers include the energy, education and corrections sectors.
The new jobs will have an average salary of $36,000 per year, plus benefits. The Louisiana Economic Development department estimates an additional 235 new indirect jobs will be created. The renovation will support about 25 construction jobs.
LED’s Business Expansion and Retention Group began discussing the expansion with the company in November. The state offered the company a $1 million performance-based grant to offset redevelopment costs at the acquired facility, with the grant to be provided at an annual rate of $200,000 over five years. The company also will use the state’s job training program and is expected to use its Quality Jobs and Industrial Tax Exemption programs.