Halliburton, the oil-and-gas equipment and service giant, plans to build a 200,000-square-foot manufacturing plant in Lafayette, La., to produce components for oilfield service work. Construction for the $65-million project will begin no later than July, the company announced, and the new plant will employ 150 once it starts operations.
The Louisiana Economic Development is providing Halliburton with a customized incentive package, including a performance-based grant for site acquisition and infrastructure from the Louisiana Rapid Response Fund. Louisiana FastStart, a state agency that handles recruitment, screening and training to new and expanding companies in the state, will provide “customized workforce solutions” for Halliburton, and the state will rebate new payroll expenses and certain sales taxes. And, the state will offer tax abatement for materials used in new manufacturing.
The terms of the incentive package call for Halliburton to create 150 “new, direct” jobs, and Louisiana officials estimates that these jobs will result in 357 new indirect jobs and generate approximately $16.3 million in new, state tax revenue, and nearly $4.4 million in new, local tax revenue over the next 10 years.
"With Lafayette's strong workforce and economy, access to major transportation zones, and the Louisiana FastStart program to help hire and train our employees, this is a great place to grow our business," stated Halliburton senior vice president Marc Edwards.
Halliburton already employs has 2,800 workers in the state.