Industrial manufacturer Fibrebond Corporation announced a $50 million expansion and enhancement of its production facility in Webster Parish, Louisiana, which supports data center, telecommunications, industrial and utility projects across the U.S.
The expansion will enable Fibrebond to retain more than 450 existing jobs in the Northwest Region. Louisiana Economic Development estimates the project will also result in nearly 650 indirectly supported jobs in the state, for a total of approximately 1,100 retained and indirectly supported jobs.
Most Read on IEN:
- Tesla Wants Shareholders to Reinstate $56 Billion Pay Package for Musk
- Major Auto Supplier Faces Fine After Fatal Crushing Accident
- Hyundai to Test New Humanoid Robot from Boston Dynamics
- BAE to Modernize WWII-Era Ammunition Plant
Fibrebond's new 297,000 square foot production facility will accommodate the wiring and installation of electrical gear in the concrete and steel modular buildings Fibrebond produces. The company expects the new facility, new equipment and other improvements to increase the location’s total production capacity by more than 50%.
“The pace of our growth has increased since we began expanding our Minden campus in May 2022, driven broadly by the digitization and electrification trends,” Fibrebond President and CEO Graham Walker said. “We have added 180 direct and 100 subcontractor jobs in the past 15 months, and all of those people are building for projects across the country."
This latest expansion will bring Fibrebond’s total manufacturing and warehouse space to more than 1 million square feet on its 254-acre campus. Construction will begin in June 2024 and commercial operations are scheduled for September 2025.
To win the project, Louisiana Economic Development offered a competitive incentive package featuring a performance-based Retention and Modernization Tax Credit valued at nearly $1.7 million over five years, contingent on investment, job retention and payroll targets being met.
Click here to subscribe to our daily newsletter featuring breaking manufacturing industry news.
