Current:Home > reviewsTire recycler to open facility at Port of South Louisiana, create nearly 50 new jobs -CapitalCourse
Tire recycler to open facility at Port of South Louisiana, create nearly 50 new jobs
View
Date:2025-04-17 20:15:34
RESERVE, La. (AP) — A European tire recycling company plans to open a $46 million processing plant at the Port of South Louisiana, state economic development officials announced Wednesday.
Headquartered in Ireland, Life for Tyres Group Ltd. said it plans to start construction of its first U.S. location at the end of the year, with commercial operations starting in spring 2026, The Advocatereported.
CEO Tilen Milicevic said the company is excited about the expansion.
“A strong industrial ecosystem, the availability of qualified personnel and suppliers, excellent connectivity, abundance of feedstock and proximity of our final clients are just a few of the many reasons why L4T Group, following a thorough market study, decided for Louisiana to be home to our first investment in the U.S,” Milicevic said. “We are looking forward to a long and fruitful partnership with the Port of South Louisiana and to being good corporate citizens for the state of Louisiana.”
The recycling and manufacturing plant will convert end-of-life tires into high-quality sustainable commodities such as advanced biofuel feedstock, recovered carbon black, which can be used to strengthen rubber, and scrap steel, Louisiana Economic Development said in a statement. The company expects to create 46 direct new jobs in St. John the Baptist Parish as a result.
“This new project is a perfect example of the power of the ports to drive investment and job creation in Louisiana,” Gov. Jeff Landry said. “In addition to the tremendous impact this foreign investment will have on the state and local economies, L4T will support Louisiana-based oil and gas and petroleum chemical companies with high-quality sustainable commodities that help them achieve their carbon management goals.”
Louisiana’s facility is part of a broader global expansion plan by the company, which recently opened a plant in Puertollano, Spain, and plans to expand in Ecuador and Japan.
To secure the project, the state of Louisiana offered an incentives package that includes the comprehensive workforce development solutions of LED FastStart, according to the training center. It also includes a $1 million performance-based grant that will be used for site improvements. The company is also expected to participate in Louisiana’s Industrial Tax Exemption and Quality Jobs programs.
veryGood! (8479)
Related
- Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
- High school football coach arrested, charged with battery after hitting player on sideline
- Oher seeks contract and payment information related to ‘The Blind Side’ in conservatorship battle
- Judge sets start date of March 4 for Trump's federal election interference trial
- South Korean president's party divided over defiant martial law speech
- '100 days later': 10 arrested in NY homeless man's 'heinous' kidnapping, death, police say
- Bachelor Nation's Jade Roper Pens Message to Late Baby Beau After Miscarriage
- Category 1 to 5: The meaning behind each hurricane category
- Most popular books of the week: See what topped USA TODAY's bestselling books list
- Security software helps cut down response times in school emergencies
Ranking
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Paris Jackson slams 'abuse' from Michael Jackson superfans over birthday post for King of Pop
- Two fans arrested after rushing Atlanta Braves OF Ronald Acuña Jr. at Coors Field
- Police Find Teen Mom Star Jenelle Evans' Son Jace After He Goes Missing Again
- Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
- ‘Like Snoop Dogg’s living room': Smell of pot wafts over notorious U.S. Open court
- Forklift operator dies in accident at Boston’s Logan International Airport
- Fire weather conditions expected in parts of Northern California. PG&E says power cuts are possible
Recommendation
Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
Nick Saban refusing to release Alabama depth chart speaks to generational gap
Jordan Spieth, Justin Thomas headline captain's picks for US Ryder Cup team
Cops find over 30 dead dogs in New Jersey home; pair charged with animal cruelty, child endangerment
2025 'Doomsday Clock': This is how close we are to self
August 08, R&B singer and songwriter behind hit DJ Khaled song 'I'm the One', dies at 31
Oher seeks contract and payment information related to ‘The Blind Side’ in conservatorship battle
6 regions targeted in biggest drone attack on Russia since it sent troops to Ukraine, officials say