Ternium USA to invest $98 million in expansion of north Louisiana facility
SHREVEPORT, La. – Ternium USA Inc. is planning to expand its facility at the Port of Caddo-Bossier with an investment of $98 million. The company is retaining 157 jobs, and the project will create 35 new direct jobs with an average salary of $69,000, plus benefits. Louisiana Economic Development estimates the project will result in 98 indirect jobs, for a total of 133 new jobs in Louisiana’s Northwest Region.
Ternium, a leading steel producer in the Americas, is adding a second coil coating paint line with annual capacity of 120,000 tons, which will increase its production capacity in the U.S. by 53 percent, among other improvements. The coil coating process consists of cleaning, treating and painting flat sheet metal that is rolled into coils. The reinvestment in the Shreveport facility is the latest addition to Ternium’s goal of providing a full menu of state-of-the-art options for the metal building industry.
“Louisiana’s manufacturing industry provides thousands of good jobs across our state, and I am excited to announce an investment that will continue the growth of this key sector of our economy,” Gov. John Bel Edwards said. “Ternium’s expansion at the Port of Caddo-Bossier will bring new jobs and economic momentum to the Northwest Region of our state. Ternium’s decision to reinvest in its Shreveport plant is a testament to Louisiana’s welcoming business climate, highly skilled workforce, and world-class transportation infrastructure.”
Construction on the facility expansion will commence in the first quarter of 2022. The company expects commercial operations at the added production line to begin by mid 2024.
To secure the project at the Port of Caddo-Bossier, the State of Louisiana provided Ternium with a competitive incentive package that includes the comprehensive services of LED FastStart - the No. 1 workforce development program in the nation for the past 12 years. Additionally, the company will receive a $1 million performance-based award from the Economic Development Award Program to support infrastructure costs. The company is expected to utilize the state’s Quality Jobs and Industrial Tax Exemption programs.
“Ternium USA strengthens our community, and by adding these new and retained well-paying jobs, they are continuing to make a notable impact,” said Justyn Dixon, President and CEO of the North Louisiana Economic Partnership. “We are proud to have such a strong company solidify their commitment to the region through continued investment and job creation. This significant investment speaks highly of the Caddo Parish community and is evidence that North Louisiana can win when it comes to advanced manufacturing.”