Three parish projects in top 50 investment announcements

Staff reports

Ascension Economic Development Corporation announced that three Ascension Parish industrial expansion projects were named to Southern Business and Development’s top 50 capital investment projects across the south for 2010. 

In its annual summary of economic development activity in the 17-state southern region, expansions at BASF, Westlake Vinyls and International Matex Tank Terminals were ranked in positions 23rd, 32nd and 48th, respectively.

Southern Business and Development reported a combined investment of $357 million by BASF, which includes a new methylamines production complex along with other capital improvement projects.  Westlake Vinyls announced capital expenditure was $300 million, the bulk of which is for a new chloralkali production facility.

International Matex Tank Terminals expansion was valued at $200 million as it continues to grow its bulk liquid storage and transfer operations in the Geismar area. 

Although job creation numbers were not included in Southern Business and Development’s survey, AEDC estimates that the three projects will create 250 new direct jobs in Ascension Parish plus more than 500 jobs in the construction industry.