Long negotiations bring SNF plant to Iberville Parish

DEIDRE CRUSE, Governmental Reporter

Gov. Bobby Jindal joined local officials at the Courthouse Friday to announce that SNF Holding Company has chosen a site south of Plaquemine for a new $362 million facility that eventually will employee 500 permanent workers in high-paying jobs.

“What a great day for our parish! What a great day for our state,” Jindal declared.

“We are absolutely convinced that we have found the right spot,” said Peter W. Nichols, president of SNF Holding.

Nichols  said Iberville offered the infrastructure to ship the company’s product all over the world and the workforce to fill the jobs, plus the support from state and local governments, needed to make the venture successful.

The company will produce acrylamide monomer and polyacrylamide powders that can be used in enhanced oil recovery. Nichols said the demand for the product to extract more oil from existing reservoirs is the primary reason for the new plant.

Jindal said the permanent employees at the plant can expect to make $57,000 a year, plus benefits.

The company also will hire 100 permanent contractors.

Construction will start after the SNF gets its necessary regulatory permits, probably in the first quarter of 2010. SNF estimates creating 250 construction jobs and anticipates making significant expenditures with local and state vendors.

The plant will become one of Louisiana’s top 150 “driver firms,” Jindal said.

An LSU economic study predicted that, in addition to the onsite jobs, the new company would create 900 indirect jobs in the state.

The state lured the company away from three other competing states with an incentive package worth $39.4 million. Governor Jindal noted that LSU estimated the project would produce $107 million in new state tax revenue and $29.9 million in new local tax revenue between 2010 and 2025.

The plant, located just south of River Road, will start up about a year after construction begins.