Angus, state sign incentive contract
Angus Chemical Co. and the state have cut an economic incentive deal under which the company’s Sterlington plant will undergo a $10.8 million upgrade and retain 174 jobs.
The company said Thursday that it will build a new electrical substation and upgrade the plant’s electricial system. Angus is a wholly owned subsidiary of Midland, Mich.-based Dow Chemical Co.
Angus expects to complete the project in October and will employ at least 50 construction workers.
Gov. Bobby Jindal said Angus was the first company to apply under a program designed to get existing employers to invest additional money in their facilities.
The state is giving Angus a 5 percent tax credit for the upgrade and property tax exemptions for materials used in new manufacturing.
The Sterlington plant makes about 40 specialty chemicals. It’s one of six Dow sites in Louisiana. The others are in Plaquemine, Grand Bayou, Hahnville-Norco, Greensburg and Reserve.
Kellogg, Wal-Mart join rice field day
Louisiana rice farmers showed representatives of Kellogg Co. and Wal-Mart on Thursday how to produce crops profitably in an environmentally friendly manner during a field day at the LSU AgCenter Rice Research Station in Crowley.
Last year, Wal-Mart sold 50 million pounds of Kellogg’s Special K cereal, which includes rice, and 20 million pounds of Kellogg’s Rice Krispies, the rice for which is grown by Louisiana farmers, Kellogg U.S. Morning Foods president David Denholm said in a news release from the LSU AgCenter.
“Kellogg is the single most important customer for rice in Louisiana,” Bill Dore of Crowley-based Louisiana Rice Mill, said in the news release.
Shaw Group gets Entergy contract
The Shaw Group Inc. has been awarded the contract to build a 550-megawatt power plant for Entergy Louisiana LLC at Ninemile Point Steam Electric Station near New Orleans.
Shaw said it will add $500 million to its backlog of unfilled orders in the fourth quarter of fiscal 2011, which ends Aug. 31.
Theplant is scheduled to begin operating by mid-2015.