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Leading oilfield service provider Halliburton plans to build a $65-million manufacturing unit in Lafayette, LA. The 200,000-square-foot project is expected to start by July 2011.
The facility will manufacture complex components for oilfield service activities and is expected to generate employment for about 150 people. According to Louisiana Economic Development (LED), the new plant will likely contribute approximately $16.3 million in new, state tax revenue and almost $4.4 million in new, local tax revenue over the next 10 years.
LED has extended its support to Halliburton through a customized incentive package, a performance-based grant for site acquisition, infrastructure from the Louisiana Rapid Response Fund and customized workforce solutions from Louisiana FastStart.
Halliburton also enjoys a rebate on new payroll expenses and certain sales taxes from the Quality Jobs Program as well as property tax abatement for materials utilized in new manufacturing from the Industrial Tax Exemption Program