ExxonMobil announced Wednesday, June 9, that the company would invest more than $240 million in capital improvements at their refinery in Baton Rouge.
The suite of projects will improve processing capability, increase flexibility for meeting market demand, advance overall site competitiveness and install technology for an expected 10 percent reduction of volatile organic compound emissions, according to the state.
The project is expected to retain 1,300 existing jobs at the refinery, and ExxonMobil is estimating that the upgrades will support more than 600 construction jobs on-site over three years.
The investment also will provide more than 20 full-time job opportunities for graduates of the North Baton Rouge Industrial Training Initiative, the state says.
“We are delighted with ExxonMobil’s decision to move forward with this important suite of projects,” Gov. Edwards said. “For more than a century, the ExxonMobil Baton Rouge Refinery has fueled the economy of our state and nation. These latest capital upgrades will continue to position the integrated ExxonMobil refinery and chemical complex here in Baton Rouge as one of the world’s most innovative and competitive energy sites.”
Project construction is expected to begin later this year.
According to Dr. Stephen Barnes, director of the Kathleen Babineaux Blanco Public Policy Center at the University of Louisiana at Lafayette, direct, indirect and induced jobs resulting from project construction will total 2,030 in Baton Rouge by 2023. Direct property tax revenue is projected to reach $43 million over the life of the project.
“Louisiana and the Baton Rouge community have helped make this suite of projects a reality by offering strong support and the opportunity to collaborate to ensure this investment provides benefit for our citizens and local businesses,” said ExxonMobil Baton Rouge Refinery Manager David Oldreive. “Through this investment, we will reduce the facility’s volatile organic compound emissions up to 10 percent while bringing direct value to the community through increased tax revenue and job opportunities for local residents and small and diverse businesses. ExxonMobil has made significant progress to reduce emissions globally and plans further reductions in greenhouse gas emissions by 2025.”
In addition to supporting the North Baton Rouge Industrial Training Initiative, the state says ExxonMobil will focus on providing supplier opportunities specifically to North Baton Rouge businesses.
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