St. Charles Parish Council has passed a resolution to provide a portion of the $130 million in financing needed to bring a bio-diesel production facility that could create at least 30 high-paying jobs on the east bank this year.
“There’s still competition from other parishes that want this plant, but this resolution puts us at the top of the list,” Corey Faucheux, director of economic planning and tourism, told council members.
“We expect to know something definite in four to six weeks.” The Iowa-based Renewable Energy Group Inc. asked the parish to sponsor up to $130 million in industrial bonds to help finance the plant that would produce 60 million gallons of fuel a year at a site in St. Rose.
To help with the initiative, council also passed a resolution asking the U.S. Congress to provide an extension to St. Charles Parish as part of the Gulf Opportunity Zone Act of 2005.
“The GOZone Act was established to help parishes rebuild economies devastated by hurricanes Katrina and Rita,” Council Vice Chairman Snookie Faucheux said.
The parish can use significant tax incentives offered in the Act to support the bio-diesel production facility project.