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IMTT expands headquarters in New Orleans, creates jobs

Christian Fernsby |
International-Matex Tank Terminals will retain and expand its headquarters in New Orleans.

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Topics: IMTT   

By the end of 2021, IMTT will make a $1.3 million capital investment to expand its 400 Poydras Plaza headquarters, and by 2022 the company will create 42 new direct jobs with an average annual salary of $133,000, plus benefits.

The project will bring IMTT’s headquarters employment to 87 in the Central Business District of New Orleans. Louisiana Economic Development estimates the expansion also will result in 47 new indirect jobs, for a total of nearly 90 new jobs in the state’s Southeast Region. Building on 220 current jobs across its Louisiana operations, IMTT’s annual payroll in the state will approach $30 million.

Four of IMTT’s 19 terminal operations are located in Louisiana, with sites in Avondale, Geismar, Gretna and St. Rose. Company terminals serving the Lower Mississippi River and the New York Harbor each represent about one-third of IMTT’s storage capacity, with the remainder distributed across other sites in the U.S. and Canada.

IMTT handles distribution and storage of petroleum, biofuels, commodity and specialty chemicals, and vegetable and tropical oil products.

To secure the project, the State of Louisiana offered IMTT a competitive incentive package that includes performance-based grants of up to $475,000, to be paid in annual installments over five years.

IMTT also will receive the comprehensive workforce solutions of the nation’s No. 1 state workforce training and talent attraction program, LED FastStart. In addition, the company is expected to utilize Louisiana’s Quality Jobs Program.

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