Current:Home > NewsTire recycler to open facility at Port of South Louisiana, create nearly 50 new jobs -Visionary Growth Labs
Tire recycler to open facility at Port of South Louisiana, create nearly 50 new jobs
View
Date:2025-04-17 22:08:16
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! (74)
Related
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- Houston braces for flooding to worsen in wake of storms
- A judge is forcing Hawaii to give wildfire investigation documents to lawyers handling lawsuits
- In a first, an orangutan is seen using a medicinal plant to treat injury
- B.A. Parker is learning the banjo
- Missouri abortion-rights campaign turns in more than double the needed signatures to get on ballot
- Wisconsin Supreme Court will decide whether mobile voting sites are legal
- Wisconsin Supreme Court will decide whether mobile voting sites are legal
- Nevada attorney general revives 2020 fake electors case
- Prince William and Kate share new photo of Princess Charlotte to mark her 9th birthday
Ranking
- $73.5M beach replenishment project starts in January at Jersey Shore
- Zebra remains on the loose in Washington state as officials close trailheads to keep people away
- Who is favored to win the 2024 Kentucky Derby at Churchill Downs?
- Save 70% on Alo Yoga, Shop Wayfair's Best Sale of the Year, Get Free Kiehl's & 91 More Weekend Deals
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- Florida clarifies exceptions to 6-week abortion ban after it takes effect
- Late-season storm expected to bring heavy snowfall to the Sierra Nevada
- Nordstrom Rack is Heating Up With Swimsuit Deals Starting At $14
Recommendation
DeepSeek: Did a little known Chinese startup cause a 'Sputnik moment' for AI?
Jewish students grapple with how to respond to pro-Palestinian campus protests
Avoid boring tasks and save time with AI and chatbots: Here's how
Kendrick Lamar doubles down with fiery Drake diss: Listen to '6:16 in LA'
Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
Lewis Hamilton faces awkward questions about Ferrari before Miami F1 race with Mercedes-AMG
MLB announces changes to jerseys for 2025 after spring controversy
Busy Philipps talks ADHD diagnosis, being labeled as 'ditzy' as a teen: 'I'm actually not at all'