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Monsanto Launches $1B Expansion of Louisiana Ops
Monsanto has begun expanding its Luling, LA operations. The agri-business is making a $975 million investment at the site at 12501 River Rd., which will end up creating more than 500 new direct and indirect jobs.
The company’s capex will include new production technology, and the new investment follows a previous $200 million expansion on the same site in 2010. The plant expansion and additions are anticipated to be completed by 2019, and will support Monsanto’s launch of its Roundup Ready Xtend Crop System.
To secure the project, the State of Louisiana is providing Monsanto a performance-based Modernization Tax Credit of $3.75 million, along with a performance-based $1.7 million Economic Development Award Program grant to reimburse some rail and electrical upgrade costs associated with the expansion.
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