Louisiana earns 2016 Silver Shovel Award for best economic development performance
BATON ROUGE, La. — Area Development magazine awarded Louisiana a 2016 Silver Shovel Award for posting one of the best economic development performances in the U.S. during the past year, based on the state’s most significant economic investments. The 2016 Gold & Silver Shovel Awards honor states with the most significant impact from their leading investment and job creation projects during 2015.
This is the seventh consecutive year that Louisiana has won Area Development’s Silver Shovel Award, following previous awards in 2010 through 2015. The magazine evaluates states, giving weighted scores for jobs per capita, the amount of investment, the number of new facilities, and industry diversity. Louisiana’s projects included two industry announcements with large capital investment and job creation components – Formosa Petrochemical Corporation’s $9.4 billion chemical manufacturing complex in St. James Parish, and a $3 billion ethane cracker and monethylene glycol manufacturing project by Axiall and Lotte Chemical in Lake Charles.
Other Louisiana projects include EPIC Piping’s advanced pipe fabrication facility and corporate headquarters in Livingston Parish; IBM’s Client Innovation Center in Ouachita Parish; South Korea-based Dongsung FineTec’s cryogenic manufacturing facility in Calcasieu Parish; Shintech Louisiana’s ethylene production expansion in Iberville Parish; a Pin Oak Terminals petroleum liquids storage facility in St. John the Baptist Parish; and Shell Chemical’s new linear alpha olefins manufacturing unit at its Ascension Parish complex. Projects submitted by Louisiana represent more than $17.1 billion in capital investment and 3,202 new direct jobs.
READ MORE of this story at Louisiana Economic Development.