Arcosa Announces 149-Job Marine Project In St. Tammany Parish

 

05/04/2019

Company to relaunch Madisonville barge facility through $7.5 million capital investment

Gov. John Bel Edwards, Arcosa Marine President Thomas Faherty and St. Tammany Corporation announced Arcosa will make a $7.5 million capital investment and create 149 new direct jobs to reopen the idle barge manufacturing operations in Madisonville. Arcosa Marine Products Inc., a division of Dallas-based Arcosa Inc., will install new equipment and complete facility upgrades to begin producing barges for customer delivery later this year.

The 149 new direct jobs will provide an average annual salary of $51,400, plus benefits. Arcosa will retain 26 existing jobs, for a total of 175 direct jobs at the La. Highway 21 manufacturing site on the Tchefuncte River. Louisiana Economic Development estimates the project will result in another 236 new indirect jobs, for a total of more than 380 new jobs in St. Tammany Parish and the Southeast Region of Louisiana.

“We are excited to welcome back the manufacturing operations of a marine mainstay in the St. Tammany Parish economy,” Gov. Edwards said. “Manufacturing jobs generate great economic activity and a high number of supporting jobs throughout the area. We’re encouraged by the return of barge manufacturing in Madisonville and hope that this new investment by Arcosa will lead to greater growth in the future.”

Arcosa Marine is a leading manufacturer of barges for inland waterways, and will produce multiple barge types at the Madisonville site. Arcosa Marine operates within the Transportation Products Group, one of three principal business segments for Arcosa Inc., which also includes the Construction Products Group and the Energy Equipment Group.

“Due to encouraging conditions in the barge construction market, we are pleased that Arcosa Marine is restoring the Madisonville barge facility to full operation,” Faherty said. “Arcosa Marine is preparing the facility to produce barges for customer delivery in 2019. We are grateful for the support of LED and St. Tammany Corporation, and as a result Arcosa Marine expects to continue to hire employees at the facility.”

With $1.5 billion in annual revenue, Arcosa’s companywide operations encompass more than 40 operation locations and over 5,500 employees.

“We are proud to have the expansion of Arcosa Marine here in St. Tammany,” Parish President Pat Brister said. “We thank them for choosing our parish and our workforce for their business operations. It is a testament to all we have to offer, including our highly educated workforce, a superior quality of life, accessible location and an amazing school system.”

LED began discussions with Arcosa about a potential expansion project at the 230-acre Madisonville site in December 2018. To secure the project, the State of Louisiana offered a competitive incentive package that includes the comprehensive workforce solutions of LED FastStart®, the nation’s No. 1 state workforce training program. Arcosa also is expected to utilize the state’s Quality Jobs and Industrial Tax Exemption programs.

“I am excited to see Arcosa Marine expand its operations in St. Tammany,” said CEO Chris Masingill of St. Tammany Corporation, the economic development organization for St. Tammany Parish. “This commitment from Arcosa and LED is another sign that we have created an economic landscape in our parish where businesses and communities thrive. Investments like this from Arcosa Marine will continue to foster job growth and attract and retain highly skilled workers to fill high-quality jobs.”

“Greater New Orleans has a storied history in maritime manufacturing,” said President and CEO Michael Hecht of GNO Inc. “Arcosa’s investment in Madisonville, reopening a maritime manufacturing facility, continues that tradition while creating well-paying jobs for Greater New Orleans. We congratulate St. Tammany and Arcosa and look forward to supporting the facility.”

About Arcosa Inc.
Arcosa Inc. (NYSE: ACA), headquartered in Dallas, Texas, is a provider of infrastructure-related products and solutions with leading positions in construction, energy, and transportation markets. Arcosa reports its financial results in three principal business segments: the Construction Products Group, the Energy Equipment Group and the Transportation Products Group. For more information, visit Arcosa.com.

SOURCE: https://www.opportunitylouisiana.com/led-news/news-releases/news/2019/04/10/arcosa-announces-149-job-marine-project-in-st.-tammany-parish



Back To News


Archive




Subscribe Now  Archive





 



Connect with us

 








 

 

© 2019 Small Business Exchange, Inc.