Posted by Heidi Schwartz
Module X Solutions will make a $7.4 million capital investment and create 357 new direct jobs at a 750,000-square-foot Shreveport, LA manufacturing facility. Module X Solutions LLC will join existing tenant MB Industries LLC at the City of Shreveport-owned industrial property, with Module X Solutions chiefly manufacturing modular buildings for the telecommunications sector while supporting MB Industries production of protective building systems for the industrial, government, commercial and residential markets.
Louisiana Economic Development estimates the project will result in an additional 578 new indirect jobs, for a total of more than 930 new jobs in the Northwest Region and surrounding areas. MB Industries also will retain 109 existing employees as part of the project, and renovation work at the Shreveport site will create an additional 50 construction jobs.
Louisiana Gov. Bobby Jindal said, “We’re proud that Module X Solutions is joining the long list of companies that are expanding operations in Louisiana. The Northwest Region offers a quality business environment, and we are thrilled that hundreds of families in the Shreveport-Bossier City area will benefit from the quality jobs created by this expansion for years to come.”
In addition to the capital improvements at the 35-acre industrial property, Module X Solutions will seek a long-term lease of the site that is subject to final approval by the Shreveport City Council. The company will complete renovation work by the end of 2015.
“We are excited about creating hundreds of new manufacturing jobs, and are truly appreciative of the support and commitments we have received from the Louisiana Economic Development team, the North Louisiana Economic Partnership, and Mayor Glover and the Shreveport city administration,” Module X Solutions CEO Steve Schoonover said.
LED’s Business Expansion and Retention Group began project discussions with Module X Solutions in November. To secure the expansion project, the State of Louisiana offered the company a competitive incentive package that includes a $1.8 million performance-based grant and a $1.8 million Economic Development Award Program grant, with both incentives dedicated to funding improvements of publicly owned infrastructure at the City of Shreveport manufacturing site. Module X Solutions will receive the comprehensive solutions of LED FastStart®, and the company is expected to use the state’s Quality Jobs and Industrial Tax Exemption programs.
“We’re excited to see this major expansion happen in the heart of our city, and the prospect of bringing more than 350 new direct jobs to Shreveport in such a short time period is simply outstanding,” Shreveport Mayor Cedric Glover said.
“The new business venture led by Module X Solutions more than triples the existing workforce of the company. The 357 additional jobs really boost Shreveport’s economy,” said President Scott Martinez of the North Louisiana Economic Partnership.
Module X Solutions will hire 274 new employees by the end of 2015 and complete hiring for all 357 new positions in 2019.
You might like:
- 1,000th Michigan Business Lands Energy Incentives
- California, Illinois, Texas Lead The Charge Toward A Modernized Power Grid
- AvePoint Expanding In Richmond And Arlington County, Virginia
- Super Bowl 50 To Generate Over $220M For San Francisco Bay Area
- Grid Stars
- Valmiera Glass To Invest $90M In Georgia
- Indiana Electrical Grid Management Firm Adding 80+ Jobs
- Sustainable Corrugated Investing $15M In Georgia
- Rapid Growth Leads 2U To New Maryland HQ
- Olympus Will Build National Service Center in Bartlett, TN
- Illinois Is Top State For LEED Green Building
- Icy Hot
- Walking the Walk
- Business Facilities LiveXchange Announces 2016 Keynote Panel
- Daimler Trucks To Invest $22.7M In SC Freightliner Facilities