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:2025-04-23 10:42:04
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! (86716)
Related
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- IRS says $1.5 billion in tax refunds remain unclaimed. Here's what to know.
- Real Housewives' Kim Zolciak and Kroy Biermann Break Up After 11 Years of Marriage
- Researchers Find No Shortcuts for Spotting Wells That Leak the Most Methane
- Small twin
- Kim Kardashian's Son Psalm West Celebrates 4th Birthday at Fire Truck-Themed Party
- Today’s Climate: August 4, 2010
- WWE Wrestling Champ Sara Lee's Cause of Death Revealed
- Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
- Today’s Climate: August 3, 2010
Ranking
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- What Will Be the Health Impact of 100+ Days of Exposure to California’s Methane Leak?
- 10 Gift Baskets That Will Arrive Just in Time for Mother’s Day
- Outcry Prompts Dominion to Make Coal Ash Wastewater Cleaner
- Biden administration makes final diplomatic push for stability across a turbulent Mideast
- A town employee who quietly lowered the fluoride in water has resigned
- GM to Be First in U.S. to Air Condition Autos with Climate Friendly Coolant
- Uganda has locked down two districts in a bid to stem the spread of Ebola
Recommendation
Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
Today’s Climate: July 13, 2010
New York business owner charged with attacking police with insecticide at the Capitol on Jan. 6
IRS says $1.5 billion in tax refunds remain unclaimed. Here's what to know.
The Super Bowl could end in a 'three
InsideClimate News Wins National Business Journalism Awards
3 personal safety tips to help you protect yourself on a night out
Matty Healy Joins Phoebe Bridgers Onstage as She Opens for Taylor Swift on Eras Tour