Formosa Plastics to make $332M expansion in Baton Rouge

Formosa Plastics plans to expand its facility in Baton Rouge, creating 15 new jobs in the region.

Taiwan-based Formosa Plastics Corporation said it's investing $332 million to expand production of polyvinyl chloride resin (PVC) and add equipment in two other units of its manufacturing facility it has operated since 1981.

The new jobs will have average annual salaries of over $77,000 plus benefits, a news release from Louisiana Economic Development said. LED estimates another 66 new indirect jobs from the expansion and 500 construction jobs beginning early next year.

PVC is a synthetic plastic polymer used in the construction industry, as insulation on electrical wires, in flooring for buildings and as piping and siding.

Formosa plans to install new machinery and equipment to increase production capacity and sales by 20 percent, the news release said. The new operations are expected to launch in late 2021 or early 2022.

LED offered Formosa a performance-based grant of up to $500,000 to secure the project. The company also is expected to use the state's Quality Jobs and Industrial Tax Exemption programs.

- CityBusiness staff reports