Seeing Louisiana's positive changes and competitive resources,
Gulf Island Fabrication Inc. recently expanded operations to
include a fifth subsidiary, Gulf Island Marine Fabrication LLC, in
Houma, La.
Opening this new subsidiary was spurred when Gulf Island
Fabrication received $2.3 million in
performance-based assistance through Louisiana Economic
Development Corporation's Economic Development Award Program. The
program funds improvements to publicly-owned infrastructure to
assist business expansions that promote economic development.
The company, which fabricates offshore drilling and production
platforms and other specialized structures, will use the funds over
a two-year period for improvements to an industrial-grade surfaced
roadway, a publicly owned sewage collection system, a water line
with fire hydrants and a drainage system. These improvements will
result in approximately $27 million in capital investment in
Louisiana.
"Today, the state of Louisiana has really stepped up to assist
Gulf Island Fabrication," said Gulf Island Fabrication CEO Kerry
Chauvin. "This administration is to be commended for reaching out
to our company. The funding will help develop our infrastructure,
which will in turn help grow our company. Because of positive
changes we see in Louisiana, our board of directors is committed to
staying and expanding in Houma."
Gulf Island Fabrication is Terrebonne Parish's only publicly
traded corporation and one of the area's largest employers.
