DeSmog
Dec 20, 2018 @ 13:56
Louisiana plans to collect no industrial property tax from the $15.2 billion Driftwood liquefied natural gas (LNG) export terminal planned for its southwest corner, state officials announced last week.
Critics say this tax break is worth $1.4 to $2.4 billion, making it one of the largest local corporate tax exemptions in American history even larger than those offered to Amazon for its much sought-after second headquarters.
Proposed by the natural gas firm Tellurian, the Driftwood terminal, which would liquefy and export 4 billion cubic feet of natural gas a day, is one of over a dozen gas export terminals proposed around the U.S. and fueled by a glut of shale gas released by fracking. The final investment decision for Driftwood is expected in early 2019, as are decisions on two other proposed Gulf Coast export terminals.
ITEP approval moves Grön Fuels step closer to port energy project businessreport.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessreport.com Daily Mail and Mail on Sunday newspapers.
International Paper to make $52M upgrade in Bogalusa
International Paper plans to upgrade its mill in Bogalusa through a $52 million project to make it more efficient, state leaders said Thursday.
The company plans to retain the mill’s 492 direct jobs that provide an average annual salary of more than $86,000, plus benefits, a news release said. In Bogalusa, IP operates a paper mill and an associated corrugated box plant.
The modernization program would enhance the paper mill’s efficiency by upgrading the recovery boiler system, along with filtration, condenser and acid system enhancements in the papermaking process, the release said.
The latest project plan would bring International Paper’s investment in capital upgrades at the Bogalusa Mill to $487 million since the company purchased the Washington Parish site in a 2012 acquisition of Temple-Inland Inc.
Louisiana: $52 Million Plan for International Paper in Bogalusa | January 21, 2021 | Gov. Edwards Announces $52 Million Modernization Plan for International Paper in Bogalusa Baton Rouge, LA (STL.News) Today, Gov. John Bel Edwards and