May 17, 2013 [Bloomberg] — A $30 million crude oil terminal and blending operation is coming to St. James Parish. Louisiana Gov. Bobby Jindal and Wolverine Terminals LLC General Manager Terry Wilson said Wednesday the company will set up on a 15-acre site along the Mississippi River.
“Wolverine Terminals joins a long list of companies that recognize Louisiana as the best state in the country for a top-notch workforce, an unmatched energy infrastructure and an outstanding business climate,” Jindal said in a news release.
The project will create 20 new direct jobs with an average salary of $62,000, plus benefits.Construction will begin in the third quarter of 2013 and be completed by the end of 2014’s second quarter.
The project is supported by energy investment companies Gulfport Energy Corp. of Oklahoma City and Wexford Capital LP of Greenwich, Conn. The terminal will receive crude oil shipments by rail from Canadian and U.S. locations and ship blended oil products via barge to domestic customers.
“We look forward to working in concert with the state and parish in creating jobs for the area,” Wilson said.
Louisiana Economic Development began discussions with Wolverine Terminals about the project in December. To secure it, the state offered the company rebates under Louisiana’s Quality Jobs Program, which provides a 5- or 6-percent cash rebate of annual gross payroll for new jobs for up to 10 years, and can provide a 4 percent sale and use tax rebate on capital spending or a 1.5 percent investment tax credit.
“The decision to choose St. James Parish for this project is not a surprise, as our resources such as the Mississippi River have proven to be a major attraction for Louisiana development,” said St. James Parish President Timothy Roussel.
