Capital investments for new and expanding businesses in Ascension Parish topped $1 billion in 2013 for the third consecutive year.
The Ascension Economic Development Corp. released a report on capital investments that said the nine projects announced in 2013 will create about 250 new jobs and generate more than $11 million in annual payrolls.
The biggest project announced in 2013 was Methanex’s decision to relocate a second methanol plant from Chile to Geismar. The $550 million project will create 35 jobs.
Honeywell announced two projects with a total value of $304 million at its Geismar plant, including an auto-refrigerant manufacturing plant. That work will create 70 jobs.
BASF will build a $42.6 million polyurethane blending facility in Geismar that will create 22 new jobs. This is the fourth major expansion project that BASF has announced in Ascension Parish since 2009.
“2013 has been a year of reinvestment and diversification for Ascension Parish. We are proud that our existing industries chose to invest heavily in our parish. Their investment is a testament to the pro-business atmosphere that we have created in Ascension.” said Mike Eades, AEDC president and CEO.