Louisiana Gov. Bobby Jindal and Stepan Company President and CEO F. Quinn Stepan Jr. announced July 25 the company will complete front-end engineering and design work for a potential $60 million to $70 million chemical production facility in the existing industrial corridor of Ascension Parish.
The Northfield, Ill.-based specialty chemicals manufacturer recently authorized the feasibility work and will make a final investment decision on the project in the second quarter of 2015, according to a press release.
If completed, the project would create 33 new direct jobs. Louisiana Economic Development estimates the project will result in an additional 98 new indirect jobs, for a total of more than 130 new jobs in the state. Another 65 construction jobs would be created by the project.
"Stepan Company is a highly successful chemical manufacturer that recognizes the tremendous business climate advantage Louisiana has over competing states," said Gov. Jindal. "Louisiana now has more people working than ever before, and the best is yet to come because more companies like Stepan are considering investments in our state."
Stepan is in property negotiations for a manufacturing site in Ascension Parish, where it would manufacture intermediate chemicals for Stepan’s global surfactants and polymer production sites, as well as finished products for its global customers.
Pending a final investment decision by the company’s board of directors, Stepan would begin building the project in the fourth quarter of 2015, with hiring to begin in 2017 as construction nears completion.