Current:Home > ContactTire recycler to open facility at Port of South Louisiana, create nearly 50 new jobs -LegacyBuild Academy
Tire recycler to open facility at Port of South Louisiana, create nearly 50 new jobs
View
Date:2025-04-17 07:50:20
RESERVE, La. (AP) — A European tire recycling company plans to open a $46 million processing plant at the Port of South Louisiana, state economic development officials announced Wednesday.
Headquartered in Ireland, Life for Tyres Group Ltd. said it plans to start construction of its first U.S. location at the end of the year, with commercial operations starting in spring 2026, The Advocatereported.
CEO Tilen Milicevic said the company is excited about the expansion.
“A strong industrial ecosystem, the availability of qualified personnel and suppliers, excellent connectivity, abundance of feedstock and proximity of our final clients are just a few of the many reasons why L4T Group, following a thorough market study, decided for Louisiana to be home to our first investment in the U.S,” Milicevic said. “We are looking forward to a long and fruitful partnership with the Port of South Louisiana and to being good corporate citizens for the state of Louisiana.”
The recycling and manufacturing plant will convert end-of-life tires into high-quality sustainable commodities such as advanced biofuel feedstock, recovered carbon black, which can be used to strengthen rubber, and scrap steel, Louisiana Economic Development said in a statement. The company expects to create 46 direct new jobs in St. John the Baptist Parish as a result.
“This new project is a perfect example of the power of the ports to drive investment and job creation in Louisiana,” Gov. Jeff Landry said. “In addition to the tremendous impact this foreign investment will have on the state and local economies, L4T will support Louisiana-based oil and gas and petroleum chemical companies with high-quality sustainable commodities that help them achieve their carbon management goals.”
Louisiana’s facility is part of a broader global expansion plan by the company, which recently opened a plant in Puertollano, Spain, and plans to expand in Ecuador and Japan.
To secure the project, the state of Louisiana offered an incentives package that includes the comprehensive workforce development solutions of LED FastStart, according to the training center. It also includes a $1 million performance-based grant that will be used for site improvements. The company is also expected to participate in Louisiana’s Industrial Tax Exemption and Quality Jobs programs.
veryGood! (1)
Related
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Trucking giant Yellow Corp. declares bankruptcy after years of financial struggles
- Paying too much for auto insurance? 4 reasons to go over your budget now.
- Christmas Tree Shops announces 'last day' sale; closing remaining locations in 16 states
- 'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
- How small changes to buildings could save millions of birds
- First-time homebuyers need to earn more to afford a home except in these 3 metros
- 2-alarm fire burns at plastic recycling facility near Albuquerque
- Federal hiring is about to get the Trump treatment
- Fiery mid-air collision of firefighting helicopters over Southern California kills 3, authorities say
Ranking
- Meta releases AI model to enhance Metaverse experience
- Survival teacher Woniya Thibeault was asked about a nail salon. Instead, she won 'Alone.'
- 3 dead, dozens injured as tour bus carrying about 50 people crashes on Pennsylvania highway
- 2 killed, 3 hurt when pleasure boat catches fire in bay south of Los Angeles
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- House fire and reported explosion in Indiana kills 2 and injures another, authorities say
- Former FBI agent to plead guilty in oligarch-related case
- Trucking giant Yellow Corp. declares bankruptcy after years of financial struggles
Recommendation
Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Hi Hi!
He was on a hammock, camping in southeast Colorado. Then, authorities say, a bear bit him.
How small changes to buildings could save millions of birds
NASCAR driver Noah Gragson suspended for liking racially insensitive meme on social media
'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
Trump lawyer says Pence will be defense's best witness in 2020 election case as former VP disputes claims
Why the U.S. government may try to break up Amazon
Ozempic and Wegovy maker courts prominent Black leaders to get Medicare's favor