Folgers is seeking about $25 million in tax breaks in New Orleans, including millions for projects that have been completed for years, in an e…
Critics said the exemptions were requested for projects that have been finished for years and that would create a minimal number of new jobs for local employees.
Folger s consultant Jimmy Leonard told a meeting of the School Board as a committee of the whole that the company was one of the Top 10 taxpayers in New Orleans. He said it spent significant payroll dollars paying employees who then spend money in the community.
Nine other speakers, however, praised the NOLA Public Schools administration and the School Board when it became apparent that the Folgers request was receiving a cold reception. The administration recommended denying all six Folgers applications.
Gov Edwards Announces Potential ExxonMobil Baton Rouge Investment
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After about two years of planning, ExxonMobil proposes investing several hundred million dollars in its Baton Rouge refinery to make the site more competitive and position it for a potential major expansion in the coming years.
The projects would collectively modernize the refinery and petrochemical complex to enable the processing of new types of crude oil while reducing environmental emissions at the site. While the total investment is expected to be several hundred million dollars, only $240 million of the amount was disclosed as eligible for potential property tax abatements.
A final investment decision about whether to move forward is expected in 2021 and is partially dependent upon tax breaks being approved. Construction could begin about halfway through the year.
Baton Rouge considered for $240 million Exxon refinery project
3 months 3 weeks 4 days ago
Wednesday, December 16 2020
Dec 16, 2020
December 16, 2020 6:20 PM
December 16, 2020
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Source: WBRZ TV
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BATON ROUGE – Amid a tumultuous job market and concerns over falling oil prices, ExxonMobil announced Wednesday, it is considering a $240 million upgrade at its Baton Rouge refinery and will solicit tax incentives to facilitate the project.
The incentives, which have been the focus of some controversy in Baton Rouge recently, are known as the Industrial Tax Exemption Program or ITEP. Business groups are in favor of the tax exemption program, which industries request when planning and funding high-dollar buildouts. In January 2019, the program was the focus of scrutiny in Baton Rouge.