French company picks Iberville Parish site

• By CHAD CALDER
• Advocate business writer
• Published: Jun 20, 2009 - Page: 1A

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PLAQUEMINE — A French chemical company has chosen Iberville Parish to be home to a $362 million plant expected to employ more than 500 workers at an average salary of $57,400.

Flanked by state and local government and company officials at the Iberville Parish Courthouse on Friday, Gov. Bobby Jindal announced SNF Floerger SAS had chosen Louisiana — specifically, an 800-acre site off of La. 405 just south of Plaquemine — over locations in three other states.

Jindal touted an LSU study that estimated the plant would create an additional 900 indirect jobs, making it one of the state’s 150 top economic drivers producing $3.7 billion in new state economic output between 2010 and 2025.

It was Jindal’s second economic development announcement for the week. On Wednesday, San Diego, Calif-based startup auto manufacturer V-Vehicle Co. said it would assemble a new generation of fuel-efficient vehicles in Monroe, creating 1,400 new jobs.

Brian Soucy, president of Global Environmental Solutions Inc., the site selection company that works with SNF Floerger, said the first of five units will start up near Plaquemine by 2011 and employ 100 people, with the remaining units starting up and adding 100 employees during each subsequent year.

He said the plant’s development will provide work for 250 construction workers.

The company’s product is a water-soluble polymer that  flushes oil out of recovery wells, helping energy companies get more oil faster.

Stephen Moret, secretary of the state Department of Economic Development, said the state is kicking in $39.4 million from its megafund, broken down into two components. The first is $26.6 million for infrastructure, most of which will be to build a rail spur leading to the site. The second is $1.28 million per year for 10 years, or $12.8 million, if the plant hits certain performance targets.

The state is also offering up about $18 million over 10 years through the Quality Jobs program.

Local government kicked in $1 million plus property tax exemptions, which Moret said will be more than offset by an expected $30 million in local tax revenue between 2010 and 2025.

SNF President Peter Nichols said that in addition to the incentives and help from state and local officials, SNF Floerger finds the area attractive because of south Louisiana’s oil and gas infrastructure and the ability to ship product all over the world from here.

Nichols said SNF Floerger knows more and more of its business is going to be offshore, “and we are absolutely convinced that we’ve found the right spot.”

The facility will produce acrylamide monomer and polyacrylamide powders packaged in bags or supersacks.