More than $3.6 million in state incentives helped persuade Module X Solutions to begin work on a 750,000-square-foot manufacturing facility that will employ 357 workers in Shreveport, officials said Monday.
Module X Solutions uses concrete and metal to construct modular buildings for the telecommunications sector. It also supports MB Industries’ production of building systems for the industrial, governmental, commercial and residential markets.
Gov. Bobby Jindal and Module X Chief Executive Officer Steve Schoonover jointly announced the company will invest $7.4 million to rework facilities leased from MB Industries.
The average salary of the 357 workers will exceed $49,800 plus benefits.
To receive a $1.8 million performance-based state grant, Module X must complete renovation of the facility by the end of 2015, hire 274 workers by that time and hire the remaining 83 by the end of 2019, officials said. State officials also said the company will receive another $1.8 million grant for improvement of the facility’s infrastructure.
In addition, the company is expected to utilize the state’s Quality Jobs and Industrial Tax Exemption programs.