A Canadian company, with facilities already in Louisiana, that turns plastic waste and used tires into green hydrogen is seeking to invest $100M to build processing plants in New Orleans and Iberia Parish that would create 250 jobs.
FusionOne filed documents with the Louisiana Economic Development in early November outlining plans for the two facilities and requesting two state incentives: A property tax abatement under the state’s Industrial Tax Exemption Program and a Quality Jobs tax rebate.
If the company moves forward, the processing plants could be up and running by early 2025, according to the filing.
FusionOne hopes to make a final investment decision by the end of the first quarter of 2024, FusionOne Executive VP Mathew Emory said.
The largest facility would be at the Port of New Orleans at more than $42M. It would create 130 new jobs with an annual payroll of nearly $16M plus 45 construction jobs.
The smaller facility would be at the Port of Iberia in New Iberia and would cost $35M. It would create 119 new jobs with a $10M total payroll and 35 construction jobs. (NOLA.com 11/27/23) New Orleans, Iberia Parish seek port deals on green hydrogen | Business News | nola.com
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