RoyOMartin will spend $20 million to modernize and expand its Martco plywood mill in Natchitoches Parish, a move that will create 24 new jobs.
Along with the new jobs, which will have an average salary of $42,000 plus benefits, the Louisiana Economic Development department estimates the expansion of the Chopin facility will add 56 indirect jobs. RoyOMartin has 686 jobs in Chopin.
The expansion will begin in the next few months and should be completed by spring 2014. The work will involve upgrading drying equipment and adding a production line.
“Through the dedication and skill of our great employees and their ability to produce quality wood products, RoyOMartin has survived one of the worst housing markets in recent memory,” President Roy O. Martin III said in a news release. “Now, as we begin to experience a resurgence in the construction industry and a renewed demand for our products, we are expanding our manufacturing operations to meet the anticipated need for wood products while continuing to build upon our 90-year commitment to central Louisiana.”
RoyOMartin will claim a $1 million modernization tax credit over five years and the company is expected to utilize Louisiana’s Industrial Tax Exemption Program.
RoyOMartin was founded in 1923 and has become one of the largest independent lumber companies in the South. The company manages 582,000 acres of timber and related resources and has more than 1,000 employees in Louisiana.