Exxon to invest $240 million in Louisiana refinery
The projects will help retain 1,300 existing jobs at the refinery, and ExxonMobil estimates 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, a collaborative program spearheaded by ExxonMobil in 2012 to provide no-cost, fast-tracked industrial craft training for community residents.
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. ■