03/05/2010
Monsanto Company Celebrates Grand Opening Of Luling Expansion
Luling expansion totals 26 new jobs, 166
indirect jobs and $196 million in capital investment
LULING, La. -- Gov. Bobby Jindal joined Monsanto Co. Chairman,
President and CEO Hugh Grant at the grand opening of the company's
new expansion in Luling. Monsanto's expansion creates 26 new jobs,
represents $196 million in capital investment and will generate 166
indirect jobs. Currently, the plant employs 690 individuals at an
average annual salary of $88,000, plus benefits, and an additional
200 full-time contractors.
"Monsanto's expansion builds on the positive economic momentum
that is sweeping across our state," said Gov. Jindal. "In the midst
of a difficult national recession, we are improving our business
climate so companies like Monsanto can expand, prosper and create
more jobs for our people."
"Louisiana provides a number of benefits with the largest factor
for me being the pool of great employees with the skills needed to
run a site like this and the creative insight to keep us
innovating," said Grant. "These skills have been invaluable as
farmers increased adoption of conservation tillage and
biotechnology, and we have increased production of Roundup. It is
exciting to see what our team here is doing and the growth we are
achieving."
Monsanto's expansion will increase production of Roundup®
agricultural herbicide by 20 percent and improve the reliability of
supply through infrastructure improvements. The facility will also
deliver substantial energy savings and carbon emission reductions
through the use of hydrogen gas as a fuel in the newly installed,
dual fuel steam boiler. The company estimates this reduction equals
the carbon footprint of 9,000 airplane trips around the world
annually.
For this expansion, Monsanto intends to use the state's Quality
Jobs and Industrial Tax Exemption programs. The Quality Jobs
program provides a 5 percent or 6 percent cash rebate of annual
gross payroll for new direct jobs for up to 10 years. The
Industrial Tax Exemption program includes a property tax exemption
for investment, including all land improvements, buildings,
machinery, equipment and any other property that is part of the
manufacturing process and kept on site.
In October 2009, Air Products (NYSE: APD), the leading global
hydrogen provider, signed a long-term supply contract with Monsanto
to build a new world-scale hydrogen production plant to be located
at the Luling facility. This new hydrogen plant will further reduce
natural gas usage by recovering hydrogen and is scheduled to be
on-stream in January 2012.
About Monsanto Co.
Monsanto Co. (NYSE: MON) is a leading global provider of
technology-based solutions and agricultural products that improve
farm productivity and food quality. Monsanto remains focused on
enabling both small-holder and large-scale farmers to produce more
from their land while conserving more of our world's natural
resources, such as water and energy. To learn more, visit www.monsanto.com.
