After getting board approval Tuesday, Monsanto Co. announced it will move ahead with a planned $975 million expansion at its Luling manufacturing site.
The project will generate 100 permanent jobs and 20 full-time contractors. Louisiana Economic Development projected the full job impact, including temporary and permanent jobs, at more than 600.
St. Charles Parish President Larry Cochran welcomed the announcement.
“We are pleased that Monsanto is choosing to make the largest single investment in its history in St. Charles Parish,” Cochran said. “This expansion will generate economic growth in our community in the form of high-paying job opportunities for local residents and procurement opportunities for local small businesses. We always welcome new businesses to St. Charles, but we especially value expansions from our existing industry partners.”
Plans are to retool the plant to produce dicamba, a key ingredient in Monsanto’s Roundup Ready Xtend Crop System.
“With more than 60 years of commitment to the Luling community, we are proud to move forward with this facility expansion and play a role in the economic well-being of Southern Louisiana,” said Brett Begemann, Monsanto president and CEO. “Our Luling facility’s unique geographic location within our manufacturing network will help provide our farmer customers across the Americas with better access to a critical weed management tool.”
LED’s Business Expansion and Retention Group, or BERG, began formal project discussions with Monsanto about a potential project in March 2015. To secure the project, the state of Louisiana will provide Monsanto a performance-based Modernization Tax Credit of $3.75 million, along with a performance-based $1.7 million Economic Development Award Program grant to reimburse rail and electrical infrastructure costs associated with the expansion.
The company will receive the comprehensive solutions of LED FastStart® – the nation’s top-ranked state workforce development program. In addition, Monsanto is expected to utilize Louisiana’s Quality Jobs and Industrial Tax Exemption programs.
According to Gov. John Bel Edwards, “Agribusiness and chemistry represent two of the most important business sectors in our state, and this major manufacturing investment by Monsanto strengthens each of these key industries.”
Monsanto first announced a planned expansion in June 2015, but board approval was needed before the company could move forward with the expansion.
In 2010, Monsanto completed a $196 million expansion at Luling that boosted production of agricultural herbicides there by 20 percent.
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