Geismar Biofuels Plant Seeks Property Tax Exemption for a Potential $1.2 Billion Expansion
by Ellyn Couvillion (The Advocate) An Iowa-based company that converts waste oil into renewable diesel fuel is considering a $1.2 billion project that would triple the size of its Geismar facility and is seeking an exemption from property taxes in Ascension Parish before it makes the decision.
The Geismar facility is competing with other Renewable Energy Group (REG) plants in the U.S. and Europe for the expansion, the chief executive officer of the Ascension Economic Development Corp., Kate MacArthur, told Ascension Parish School Board members Tuesday.
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MacArthur said the project, expected to be completed in the first quarter of 2024, would create 60 new jobs and an additional $3 million in new payroll.
Currently, the plant has 67 employees and 35 full-time contractors. READ MORE