3 Big Reasons the Shreveport – Bossier Economy is About to Explode
The headline in a recent edition of Business Report was hard to ignore: "Northwest Louisiana scores three projects totaling more than $750 million."
No doubt the economic news for the Shreveport and Bossier City area has been pretty good lately. Construction of the massive north Shreveport Amazon Distribution Center promises to bring 1,000 direct jobs and as many as 1,800 indirect when it opens in mid-2022.
Meanwhile, an Alabama developer's plan to privately finance a new bridge spanning the Red River seems to be gaining momentum (and government approval) by the day.
Could it be that, at long last, when it comes to new businesses and jobs, the Ark-La-Tex is on a hot streak? Well, now there's even more good news for the area!
Louisiana Economic Development has announced that three big money developments could be coming to our area. A new $550 million methanol plant, a $110.5 million sawmill and an expansion at the Port of Caddo-Bossier of another $98 million.
According to Business Report, "the projects would create about 200 permanent new jobs and employ hundreds of construction workers throughout the buildout."
First on the list is Bia Energy Operating Company. That company is looking at a $550 million methanol production plant. If constructed, the plant would produce half-a-million metric tons of methanol annually. The plant would also feature carbon capture capabilities, that would reduce CO2 emissions by more than 90 percent compared to other plants of its kind.
Next, Teal Jones Group announced that the company is evaluating Bossier Parish for a possible $110.5 million lumber plant. The company expects to source southern yellow pine timber from its lumber producer partners and other area suppliers. The company also plans to sell residual fiber products (chips, sawdust, etc.) to local pulp and pellet plants.
And lastly, Ternium USA is planning to grow its current Port of Caddo-Bossier facility with an investment of $98 million. According to Business Report, Ternium, a steel producer, "is looking to add a second coil coating paint line with an annual capacity of 120,000 tons, which will increase its production capacity in the US by 53%."