The Tokyo-based Mitsubishi Chemical Corp. is considering building a $1 billion manufacturing complex to the eastbank of Ascension Parish in Geismar, according to an announcement from Louisiana Economic Development.
The potential project would create 125 new direct jobs with an average annual salary of $100,000, plus benefits, as well as another 669 new indirect jobs — the Louisiana Economic Development estimates — for a total of nearly 800 new jobs in the Capital Region and surrounding areas. But the project is only being considered at this time, with a final investment decision by Mitsubishi Chemical Corp. on the project expected by mid-2022.
“Geismar is one of the most advanced chemical manufacturing communities in the world,” Gov. Edwards said in a press release. “As we continue to enhance our world-class infrastructure in Louisiana, we are attracting world-scale production facilities like the one proposed by Mitsubishi Chemical. We look forward to working with MCC to attract this permanent investment and the accompanying quality jobs to our state.”
The complex would manufacture methyl methacrylate, or MMA, which LED calls “a vital building block for acrylic-based polymers” that is a component of “paints, adhesives, glazes, lighting displays, building panels, bath fixtures, flat-screen monitors” among other items.
Hitoshi Sasaki, the chief operating officer for Mitsubishi Chemical Corp’s global methyl methacrylate business, said in a press release, “We look forward to partnering with the State of Louisiana and the people of Ascension Parish.”