Forum Energy To Build $19M Facility to Manufacture Drilling Equipment
- Sep 21, 2012
Houston-based Forum Energy Technologies announced it will be expanding its Louisiana presence by building a new 150,000-square-foot facility in St. Martin Parish.
According to a report by Acadiana Business, the $19 million development will manufacture onshore and offshore drilling equipment serving the global energy market. The new facility will replace an existing operational structure in adjacent Broussard. The company will retain all 203 jobs in the existing facility, while increasing its workforce by 125 new direct jobs over five years. Salaries are expected to be around $45,000. Louisiana economic development officials estimate the expansion will create 300 indirect jobs as well.
The new manufacturing facility will be located off U.S. 90, next to the SMEDA Business & Industrial Park. Construction is expected to start by the end of the year and finish by 2013’s fourth quarter. Forum is expected to benefit from several state incentives. Among these is a $700,000 performance-based Economic Development Award Program that will cover drainage infrastructure upgrades needed at the site. Both the Louisiana Quality Jobs and the Industrial Tax exemption programs are expected to be utilized.
Forum Energy Technologies is a global provider of manufactured technologies and applied products and services to the global energy industry’s drilling, production and infrastructure markets. Forum employs about 3,200 in 80 locations, has a presence in all the key oil field distribution centers of the world.
In other news, Royal Nissan has announced it will be installing electric car charging stations around Baton Rouge to facilitate the use of the eco-friendly Nissan Leaf models. According to the Greater Baton Rouge Business Report, 15 to 20 charging stations will be installed in two to three months’ time. The stations will be located in downtowns, shopping centers, and other hot spots. The company has allocated $100,000 for the Baton Rouge chargers and is currently in negotiations with local businesses for locations and charger types that range from $3,000 to $9,000 in price.
Baton Rouge is The Pelican State’s leader for the environmental-friendly cars, with up to 10 units sold in the first three months after the model hit the market.
Photo credit: evgonetwork via flickr.com