China To Build A Billion Dollar Chemical Plant In Louisiana
NOLA reports that a Chinese chemical company is planning to build a $1.2 Billion plant in Louisiana after they were given a $4.3 Million grant. Wanhua Chemical Group is building a methanol complex in St James Parish which will create 170 direct jobs and 945 indirect ones. This project has been going through negotiations for around 3 years now.
The company will benefit from the state tax exemption programs which will allow them to not pay property taxes for 10 years. The company is currently looking for a location to build the plant.