Two major chemical companies are one step closer to teaming up in Jefferson Parish. Governor Bobby Jindal and Dyno Nobel International president Simon Atkinson, along with Parish President John Young, announced Wednesday that Dyno Nobel has approved a $30 million feasibility study at the Cornerstone Chemical Company’s Fortier Manufacturing Complex in Waggaman. The study is meant to determine if the Jefferson Parish chemical park is the ideal location to build an $800 million dollar ammonia plant.
Dyno Nobel chose the site based on a number of factors, including Cornerstone’s successful record of strategic alliances. Cornerstone currently partners with several other chemical manufacturers, but they plan to leverage investment from other companies to broaden their global reach. A partnership between Cornerstone and Dyno Nobel would create approximately 60 new high wage jobs in the area.
The Jefferson Economic Development Commission (JEDCO) has worked closely with Louisiana Economic Development (LED) to prepare an incentive package for the partnership.
“I am thrilled that Dyno Nobel has taken an interest in Cornerstone and Jefferson Parish,” says executive director Lucien Gunter. “A partnership like this could tremendously boost economic development throughout the region, and hopefully attract other chemical companies to the complex.”
“I am confident that the results of this study will confirm that Jefferson Parish’s west bank is well-positioned to capture this potential $800 million investment by a global industry leader such as Dyno Nobel,” Jefferson Parish President John Young adds.
Cornerstone Chemical Company purchased the Building Block Chemicals division of Cytec Industries Inc. in 2011. The chemical manufacturing company ships products all over the world to be used in everyday items. Dyno Nobel is the leading supplier of industrial chemicals to mining, seismic and construction industries in North America. Dyno Nobel employs more than 3,000 people and has 34 manufacturing facilities all over the world.