Danos, a manufacturer of offshore equipment and piping, will build a $23.2 million, 100-employee plant at the Port of Iberia, company and state officials announced Tuesday.
President and Chief Executive Officer Hank Danos, along with Gov. Bobby Jindal, made the announcement after the signing of a 40-acre lease near New Iberia with the port’s board of commissioners.
Construction on the 172,000-square-foot plant is scheduled to begin in the fourth quarter and will require 200 construction workers.
The 100 permanent plant jobs will have annual salaries that average $65,000 for a total annual payroll of $6.5 million.
Officials of the Louisiana Department of Economic Development said that Danos qualifies for a $1.5 million, performance-based state economic development award. In addition, Danos can use Louisiana’s Quality Jobs and Industrial Tax Exemption programs.
“Danos is a major economic driver in Louisiana, and its decision to reinvest in our state represents a tremendous vote of confidence,” Jindal said.
The Danos manufacturing facility is part of a larger expansion announced by the company in May 2013. Danos also will build a new headquarters facility in Gray, near Houma, at the intersection of U.S. 90 and La. 24. Together, the headquarters and manufacturing facilities will represent a capital investment of $40 million, with 426 new direct jobs created over the next five years.
With the expansion, Danos will retain 400 existing land-based jobs in Louisiana and create 200 construction jobs. The company also will maintain fabrication operations at its current headquarters site in Larose, where Danos was founded in 1947.