Louisiana captures $50 million investment in data center scector as Fibrebond expands Webster Parish facility

Industrial producer Fibrebond Company introduced a $50 million enlargement and enhancement of its manufacturing facility in Webster Parish, which helps knowledge middle, telecommunications, industrial and utility tasks throughout america.

The enlargement will allow Fibrebond to retain greater than 450 present jobs within the Northwest Area. Louisiana Financial Improvement estimates the undertaking will even lead to almost 650 not directly supported jobs within the state, for a complete of roughly 1,100 retained and not directly supported jobs.

“On behalf of the State of Louisiana I wish to thank Fibrebond Company for investing greater than $100 million in Webster Parish over the previous three years, offering high quality jobs for the Northwest Region’s expert workforce,” stated LED Secretary Susan B. Bourgeois, who attended an announcement occasion on the Fibrebond facility Thursday. “This undertaking is very thrilling as a result of it capitalizes on Louisiana’s present manufacturing energy to create new alternatives in rising markets comparable to knowledge middle and telecommunications infrastructure. That may be a successful method for Louisiana.”

Fibrebond, a family-owned firm, is the most important employer in Webster Parish. Its new 297,000 sq. foot manufacturing facility will accommodate the wiring and set up {of electrical} gear within the concrete and metal modular buildings Fibrebond produces – probably the most time-consuming and value-added ingredient of manufacturing. The corporate expects the brand new facility, new tools and different enhancements to extend the location’s complete manufacturing capability by greater than 50 %.

“The tempo of our development has elevated since we started increasing our Minden campus in Might 2022, pushed broadly by the digitization and electrification developments,” stated Fibrebond President and CEO Graham Walker. “The enlargement in Louisiana makes probably the most sense for our enterprise. We now have added 180 direct and 100 subcontractor jobs prior to now 15 months, and all of these individuals are constructing for tasks throughout the nation. Our means to automate and scale with high quality is simply attainable due to the staff we’ve got in north Louisiana.”

This newest enlargement will deliver Fibrebond’s complete manufacturing and warehouse area to greater than 1 million sq. ft on its 254-acre campus. Building will start in June 2024 and industrial operations are scheduled for September 2025.

“The enlargement of Fibrebond’s facility is a testomony to their enduring partnership with Minden,” stated Minden Mayor Nick Cox. “For over 4 a long time, Fibrebond has been a cornerstone of our financial system, and this vital extra funding highlights their position as a pivotal power in our city’s financial development and showcases our community’s potential as a frontrunner within the manufacturing sector.”

To win the undertaking, Louisiana Financial Improvement provided a aggressive incentive bundle that includes a performance-based Retention and Modernization Tax Credit score valued at almost $1.7 million over 5 years, contingent on funding, job retention and payroll targets being met.

“Fibrebond’s continued funding into Northwest Louisiana and Minden is actually an indication of the company’s means to reach this area,” North Louisiana Financial Partnership President and CEO Justyn Dixon stated. “We have fun the continued success of corporations like Fibrebond, understanding that their achievements contribute considerably to the general vitality of this area.”