$9.4 billion Petrochemical Plant to be Built in Louisiana

A nearly $9.5 billion petrochemical plant will be built in Louisiana by a company based in Taiwan.

Louisiana Gov. John Bel Edwards joined Formosa Petrochemical Corp. Executive Vice President Keh-Yen Lin in making the announcement this week. Plans call for the $9.4 billion chemical manufacturing complex to be located on 2,400 acres in St. James Parish, between Baton Rouge and New Orleans.

At least 1,200 permanent jobs will be created with average salaries of $84,500. The construction project will create at least 8,000 jobs.

The plant will be the largest industry in the parish and will add nearly $28 million a year in property taxes to the parish which now receives about $60 million in various taxes.