The key decision-makers in granting an industrial tax exemption in St. Landry Parish have agreed to an 80 percent property tax break for 10 years if the Delek US refinery at Krotz Springs expands.
Labled Project Vista, the St. Landry Parish Council approved the tax break at its meeting on Wednesday. The parish School Board also approved the tax break at special meeting on Wednesday.
Bill Rodier, St. Landry Parish Economic District executive director, said Sheriff Bobby Guidroz and Assessor Ryhn Duplechain have signed off on the tax break.
Rodier, speaking at the Parish Council meeting Wednesday, said the company also is considering refinery investments at Big Springs, Texas, Tyler, Texas, and El Dorado, Arkansas. A decision is expected at the end of February, he said.
According to Rodier’s presentaton:
—Total capital investment is at least $153 million for the project forecast to start in 2020 and end in 2023.
— There would be retention of an estimated 213 jobs through 2023 with an annual payroll of $22.6 million.
— The project would create 47 new jobs with an annual payroll of $4.2 million.
Rodier said the hourly refinery workers’ average pay is $90,000 a year and it’s $120,000 a year for salaried workers.
The project would create more than 1,500 construction jobs, he said.
The state has offered $7.5 million to improve the dock and bank on the Atchafalaya River at Krotz Springs, he said.
The incentives offered to the company total about $21 million, he said. The include the state’s $7.5 million, about $10.4 million in local property taxes and $3.1 million from the state based on wages at the plant.
Rodier said the project would have a total economic impact of $900 million to $1 billion.
Rodier said Delek US recently completed a $107 million project at the Krotz Springs facility aimed at increasing production.
