Independent Oil Refiner Leaving Dallas for Louisiana

In a rare setback for Texas when it comes to headquarters relocations, a company is leaving Texas, instead of moving in. Placid Refining, an independent petroleum refining company, announced it is investing $66 million to relocate its headquarters from Dallas to Baton Rouge and modernize its existing facility in Port Allen. It’s leaving its offices at 1601 Elm St in Dallas.

The company expects to create 20 new direct jobs, and retain all 215 current positions at the Port Allen facility. Louisiana Economic Development estimates the project will result in 88 new indirect jobs, for a total of 108 new jobs in the Capital Region.

Placid produces a full range of transportation fuels that service a variety of industries and  supplies jet fuel to the U.S. Department of Defense. The West Baton Rouge location, which has been in operation since 1975, has the capacity to refine up to 82,000 barrels of crude oil per day.