Current:Home > NewsTire recycler to open facility at Port of South Louisiana, create nearly 50 new jobs -CapitalEdge
Tire recycler to open facility at Port of South Louisiana, create nearly 50 new jobs
View
Date:2025-04-14 10:15:47
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! (418)
Related
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- Colorado, Deion Sanders control their own destiny after win over Texas Tech: Highlights
- Lawsuit filed over measure approved by Arkansas voters that revoked planned casino’s license
- Gender identity question, ethnicity option among new additions being added to US Census
- The company planning a successor to Concorde makes its first supersonic test
- Boys who survived mass shooting, father believed dead in California boating accident
- 1 monkey recovered safely, 42 others remain on the run from South Carolina lab
- Who is racing for 2024 NASCAR Cup Series championship? Final four drivers, odds, stats
- The White House is cracking down on overdraft fees
- Haul out the holly! Rockefeller Center Christmas Tree arrives in New York City
Ranking
- Global Warming Set the Stage for Los Angeles Fires
- Pretty Little Liars' Brant Daugherty Reveals Which NSFW Movie He Hopes His Kids Don't See
- Car explosion damages homes and vehicles in Queens, New York: Video captures blaze
- How many points did Bronny James score tonight in G League debut?
- Trump's 'stop
- How many points did Cooper Flagg score tonight? Freshman gets double-double despite cramps
- Haul out the holly! Rockefeller Center Christmas Tree arrives in New York City
- Judge says New York can’t use ‘antiquated, unconstitutional’ law to block migrant buses from Texas
Recommendation
A South Texas lawmaker’s 15
Rare Sephora Deals on Beauty Devices That Never Go On Sale: Dyson Airwrap, NuFace & More
Ranked voting tabulation in pivotal Maine congressional race to begin Tuesday
Monkeys that escaped a lab have been subjects of human research since the 1800s
Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
3 arrested on charges of elder abuse, Medicaid fraud in separate Arkansas cases
Alabama high school football player died from a heart condition, autopsy finds
Arizona Republican lawmaker Justin Heap is elected recorder for the state’s most populous county