07/22/2010
Transportation Consultants Inc. To Expand Capabilities At Port Of New Orleans
NEW ORLEANS -- Today, Gov. Bobby Jindal joined Transportation
Consultants Inc., or TCI, Founder and CEO Jack Jensen, New Orleans
Mayor Mitch Landrieu, Port of New Orleans President and CEO Gary
LaGrange, and Entergy New Orleans President and CEO Charles Rice to
announce TCI will use new pellet packaging equipment and increased
rail capacity to expand its container traffic capabilities at the
Port of New Orleans. TCI's expansion is the second phase of a
project that began in 2009, with the first phase representing a
capital investment of approximately $10.4 million and the second
phase representing a capital investment of $3.2 million.
The first phase will retain 62 jobs and 45 owner-operated truck
driver positions. The second phase will create 60 new, direct jobs
at an average annual salary of nearly $48,000, plus benefits.
Louisiana Economic Development estimates the second phase will also
create 20 new, indirect jobs, and generate $3.6 million in new,
state tax revenue and $1.6 million in new, local tax revenue over
the next 10 years.
"TCI's expansion will improve the company's ability to capture
additional container traffic that would have otherwise gone to
out-of-state ports and at the same time, the expansion will
strengthen the competitiveness of the Port of New Orleans," said
Gov. Jindal. "Most importantly, this announcement means that yet
another Louisiana-based company is growing within our borders and
we're creating and retaining good jobs for our people so they can
pursue their dreams right here at home. This increased investment
is also proving that business leaders are taking advantage of our
healthy business climate, and they are recognizing the growth
opportunities available in New Orleans and in our state."
"This project is about investing in our port industry in New
Orleans," said Jensen. "The $13.6 million investment will keep TCI
and its 120 jobs in New Orleans for a long time to come. Without
the Port of New Orleans, The New Orleans Public Belt Railroad,
Entergy, the mayor and Gov. Jindal's commitment to this project, we
could not collectively increase international container traffic at
the Port."
"TCI's relocation and expansion will bring new jobs, new tax
revenue and a growing, diversifying business to New Orleans," said
Landrieu. "We are pleased to welcome companies like TCI to the city
and will continue to aggressively pursue good-paying jobs for our
residents."
To help secure the second phase of this project, LED committed
$0.5 million from the Enterprise Zone Program and $0.4 million from
the Economic Development Loan Opportunity Program. TCI will use the
financial assistance to build a rail spur connected to The New
Orleans Public Belt Railroad, which will enable the company to
handle plastic pellet shipments from Louisiana's chemical
manufacturers that are currently being sent to the Port of Houston
by rail. These shipments will now be packaged at TCI and shipped
out of the Port of New Orleans, reducing the time it takes to get
these shipments to market and increasing pellet container
volumes.
For the first phase, TCI used Gulf Opportunity Zone bonds and
New Markets Tax Credits to begin construction on a container
terminal and warehouse facility at the current site.
"This investment gives the local transportation sector the tools
to handle chemical products more efficiently," said LaGrange. "It
also allows Louisiana to maximize the economic impact of these
home-grown products. Plastic pellets will continue to generate jobs
and economic activity for the state, even as they move down the
Mississippi River and are shipped to buyers around the world."
"We're delighted to work with the Port and LED to help ensure
TCI's expansion is successful," said Rice. "This project is an
excellent example of the growth opportunities available in the
trade and logistics sector in New Orleans."
About Transportation Consultants
Inc.
Headquartered in New Orleans, Transportation Consultants Inc. is a
full-service logistics and warehousing services provider
specializing in container yard services, intermodal transportation
and international logistics consulting.
