Greater New Orleans has started 2019 with another multibillion-dollar announcement, while also furthering GNO’s #1 ranking (per capita) for foreign direct investment (FDI).
South Louisiana Methanol, a project with ownership in New Zealand and Texas, has announced it is going forward with a $2.2 billion methanol complex in St. James Parish. The methanol project will create 75 new direct jobs with an average annual salary of $71,400, plus benefits. In addition, the project will result in an estimated 350 new permanent indirect jobs while generating 800 construction jobs at peak building activity. South Louisiana Methanol is assembling a 1,500-acre site along the west bank of the Mississippi River, approximately eight miles south of the Sunshine Bridge. Methanol is derived from natural gas. It has many common uses, from paint to fertilizer to clothing.
Multiple parters contributed to this effort, including Louisiana Economic Development, St. James Parish, the Port of South Louisiana, GNO, Inc., and others.