Posted: Apr 6, 2010 3:42 PM by Letitia Walker
Updated: Apr 6, 2010 3:42 PM
Today, Governor Bobby Jindal and Bruce Foods Corporation President and CEO J.S. "Si" Brown announced that Bruce Foods will expand one of its two Louisiana-based plants. Through the expansion, the food manufacturing company will retain 380 jobs and create 43 new jobs with a payroll of nearly $1.35 million by 2014.
The expansion of the plant represents an overall capital investment of $5 million. LED estimates the 43 new direct jobs will generate approximately 112 new indirect jobs, as well as nearly $3.5 million in new state tax revenues over 10 years, excluding corporate income taxes.
Governor Jindal said, "For more than 80 years, Bruce Foods has been a vital part of this community and a great corporate citizen for the state of Louisiana. With the creation of new jobs and the retention of hundreds more, the expansion of Bruce Foods will help New Iberia and the rest of the state continue our strong economy.
"Today's announcement is part of our aggressive focus on economic development since we entered office, especially business retention and expansion. Indeed, Bruce Foods' decision to expand its Louisiana operations is another example of a homegrown business finding success here at home."
Si Brown said, "As Louisiana moves forward, it has to have a strong business friendly component in order to create new jobs. We are fortunate to have a governor with an administration that understands how important this is and is actively embracing public/private cooperation in order to create this positive environment. We commend the governor and thank him for his commitment to Louisiana's business community."
Founded in 1928 in New Iberia, Bruce Foods is one of America's largest privately owned food manufacturing companies, employing more than 1,200 people.
According to Bruce Foods, this expansion of its New Iberia plant is the company's second major investment in Louisiana in recent years. The state secured the expansion by providing a $1 million performance-based, forgivable loan, as well as a $1.5 million performance-based, low-interest loan from the Rapid Response Fund. In addition, the company will receive customized workforce support through Louisiana FastStart. Bruce Foods may also apply for the Industrial Property Tax Exemption and the Quality Jobs Program.
Primarily known for its "Original" Louisiana brand hot sauce, Cajun Injector products, Bruce's Yams line and Casa Fiesta Mexican food items, Bruce Foods will manufacture new value-added products from root vegetables such as sweet potato, carrot and squash, once the plant expansion is complete.