Wanhua Selects St. James for $1.25B Investment
Published on November 19, 2018
This past Friday, Governor John Bel Edwards and Wanhua Chemical Group Co. Ltd. executive Weiqi Hua announced the company will develop a $1.25 billion manufacturing complex in the St. James Parish community of Convent, Louisiana. The project will create 170 new direct jobs with an average annual salary of more than $80,000, plus benefits. Louisiana Economic Development estimates the project will result in additional 1,060 new indirect jobs, for a total of 1,230 new permanent jobs in the state. Wanhua will be producing MDI, commonly used for automotive parts, appliances, electronics, insulation, furniture, textiles and footwear.
Louisiana is currently #1 in the USA for foreign direct investment per capita. Recent other announcements in Greater New Orleans have been from Denmark, England, Japan, India, Turkey and Liechtenstein.
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