Our Views: Company HQ headed to BR

• Advocate Opinion page staff
• Published: May 16, 2008 - Page: 8B - UPDATED: 12:05 a.m.

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The decision of Albemarle Corp. to move its headquarters to Baton Rouge is a significant addition to the local economy. While 30 or so direct jobs might not seem like much, they have an important symbolic value.

Albemarle has been part of Baton Rouge’s economy for decades, going back to its predecessor Ethyl Corp. But the chemical company’s headquarters was in Virginia. That the headquarters moves to Baton Rouge — instead of Houston, an epicenter for petrochemical jobs today — is an implicit endorsement that city and state leaders are excited about.

Gov. Bobby Jindal noted that it will be the fifth Fortune 1000 company with a headquarters in the state. The governor said that has important value in showing other prospects that Louisiana is a good place to do business.

The governor also noted that Albemarle is a growing company and its presence in Baton Rouge can continue to expand in future years. The company executives returned the compliment, saying they are excited about the prospect of positive change in the state because of Jindal’s election.

The Albemarle project has been 18 months in the making, pushed by Stephen Moret as president of the Baton Rouge Area Chamber. He is now Jindal’s head of the Department of Economic Development. There’s a lot of credit to go around, with BRAC and Moret’s department working with Mayor-President Kip Holden and the Metro Council to provide an inducement package of about $7 million.

Moret said an economic impact analysis by LSU said that the incentives are a good deal for Baton Rouge.

This is sort of like an old friend coming home, and we welcome Albemarle’s headquarters staff to Baton Rouge.