Avant Organics LLC, a new specialty chemicals company created by Crest Industries, expects to invest $4 million in Alexandria for a new manufacturing business.
Avant Organics plans to sign a lease at the Central Louisiana Regional Port and hire 40 new workers with average annual salary of $75,000 plus benefits.
Pineville-based Crest Industries already has more than 800 workers in the state for customers in electrical infrastructure, distribution, industrial services and natural resources.
Avant Organics expects to use scientific research to enhance flavor and fragrances in food and beverage products but also pharmaceuticals and other industries. The company expects to begin production by the third quarter.
The Louisiana Economic Development department negotiated with Crest Industries in early 2021 for an economic incentive package, which includes workforce training through FastStart along with a $500,000 performance-based grant to offset infrastructure costs. The company is eligible for the Industrial Tax Exemption Program, a tax abatement up to 80% for 10 years pending local municipal approval and the Quality Jobs program, which is a cash rebate to companies up to 6% for no more than 10 years in addition to state sales and use tax rebate on capital expenditures.