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NJ-Based BASF Building Plant in Louisiana

BASF is building a formic acid production plant in Ascension Parish that will create 20 new jobs.

Flickr user martinroell

Gov. Bobby Jindal and company executives were at the groundbreaking Tuesday, at the company’s 2,600-acre complex in Geismar, which is home to nearly two dozen chemical plants.

The New Jersey-based company says the new facility is expected to be complete by mid-2014. Formic acid is used in animal feed preservatives, roads and runway de-icing and household and industrial cleaning products.

The new plant is part of a series of expansions at the Ascension Parish site, with new BASF facilities added in 2011 and under construction.

Incentives for the latest project include a $1.7 million Modernization Tax Credit paid over five years, plus tax breaks through the Enterprise Zone and Industrial Tax Exemption programs.

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

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