Posted: Oct 28, 2013 11:35 PM by Alex Labat
Updated: Oct 28, 2013 11:36 PM
We've all heard the phrase, "If you build it, they will come".
It's become the motto over at the Port of Iberia.
A multi-million dollar project is almost done. By the end of next month, the Port of Iberia will have an additional 100 acres for development and leasing.
It's here where Port of Iberia Executive Director Roy Pontiff saw opportunity, "And began the planning of extending an existing channel into this hundred acre track of property", says Pontiff.
The expansion will me a mirror image of the port once it's been fully occupied.
More than half of the property has already been leased by tenants. Tenants like Louisiana Blasting and Coating.
Chief Operating Officer Dale Behan says, "That acreage out there is an opportunity for us to expand not only our array of services that we provide but also our client base."
That acreage is land mostly funded by the parish.
Pontiff says with such an influx of prospective tenants, the parish should be paid back in no time.
"Hopefully they're going to see a rapid return on their investment by tax dollars being generated before the end of 2013 on this particular investment that they made" says Pontiff.
The port director says the expansion should create more than 200 new jobs, and that could be just the beginning.
"We were successful in the first 170 acres, we feel we're going to be successful especially since we've got fifty percent of it leased already. So I envision a phase three in not too many years from now", says Pontiff.