A $37 million-expansion at Haynes International Inc.’s tubular facility will add 19 jobs to the 141 already employed at the Arcadia, LA facility.
Along with the new positions, which are expected to have an average annual salary of $38,000 plus benefits, the project will result in 46 new indirect jobs, Louisiana Economic Development estimates. Haynes International plans to begin hiring in the next six to eight months.
Construction of the 35,000-square-foot addition should be finished by the second quarter of 2013, increasing the plant size to 200,000 square feet. The first new rolling mill is scheduled to begin operating in June 2014, while the second is slated to start operations in October 2014.
Haynes International, a leading producer of titanium hydraulic tubing for global aircraft manufacturers, operates at full capacity but is expanding to meet demand.
“Demand for titanium hydraulic tubing is increasing. And for the company to maintain and grow its market share, additional manufacturing is critical. This expansion will help Haynes better meet the needs of its titanium tubing customers throughout the world in the aerospace industry,” Gov. Bobby Jindal says in a news release announcing the company’s plans.
“The company looked at sites in other states but ultimately picked Arcadia for the expansion because of the natural fit of the existing equipment at the facility, Louisiana’s strong business climate and, most importantly, the experienced and dedicated work force already here.”
LED’s Business Expansion and Retention Group, or BERG, worked with Haynes International to secure the project. Louisiana will provide the company a $1.15 million incentive payable over five years from Louisiana’s Modernization Tax Credit. The program provides up to a 5 percent tax credit based on the capital investment by companies that upgrade their facilities and make them more efficient. In addition, Haynes International is expected to utilize the state’s Industrial Tax Exemption and Quality Jobs incentive programs.