BATON ROUGE, LA—Louisiana Gov. Bobby Jindal and Stepan Company, of Illinois have reached a deal for the development of a $60 million to $70 million chemical production facility in the existing industrial corridor of Ascension Parish.

The company, headquartered near Chicago, recently authorized the feasibility work and will make a final investment decision on the project in the second quarter of 2015.

If completed, the project would create 33 new direct jobs with an average annual salary of $70,000 per year, plus benefits. Louisiana Economic Development estimates the project will result in an additional 98 new indirect jobs, for a total of more than 130 new jobs in the state. Another 65 construction jobs would be created by the project.  

“Stepan Company is a highly successful chemical manufacturer that recognizes the tremendous business climate advantage Louisiana has over competing states,” said Jindal, in a press release from Louisiana Economic Development. “ Louisiana now has more people working than ever before, and the best is yet to come because more companies like Stepan are considering investments in our state. Increasingly, the world's leading businesses—from from energy companies to advanced manufacturers and technology innovators—are choosing Louisiana and recognizing our state as the new frontier for business opportunity.”

With $1.88 billion in 2013 revenue, Stepan Company is a major global manufacturer of specialty and intermediate chemicals used in a broad range of industries. The company is in property negotiations for a manufacturing site in Ascension Parish, where it would manufacture intermediate chemicals for Stepan's global surfactants and polymer production sites, as well as finished products for its global customers.

“Stepan appreciates the quality of resources and support available in Louisiana as we complete the feasibility study of our proposed project,” CEO Quinn Stepan said. “We look forward to confirmation of our project economics, building a new facility and joining many of our peers, who already enjoy the benefits of the pro-business environment in the state of Louisiana.”

LED began discussions about a potential Louisiana project with Stepan Company in June 2012. To secure the potential project, the state offered the company a competitive incentive package that includes a $500,000 performance-based grant to offset infrastructure costs, along with the comprehensive workforce development solutions.