The Louisiana Board of Commerce and Industry voted unanimously Jan. 29 at a virtual meeting to approve ExxonMobil’s request for a property tax abatement, worth some $20 million over 10 years, for its proposed $240 million modernization project at its north Baton Rouge refinery.
David Helveston, president of the Pelican Chapter of Associated Builders and Contractors (ABC) in Baton Rouge, called it a step in the right direction. “I cannot stress enough how timely and important this investment will be for the many people in our region who rely on industry expansion to sustain their livelihoods,” Helveston says in a written statement. “I am encouraged by the overwhelming sense of unity among our local and state elected officials all recognizing that we need all the opportunity we can get to maximize our economy’s rebound potential.”
The ExxonMobil Baton Rouge refinery project will bring 100s of jobs, sales tax revenue and extra property tax revenue. “The global economic crisis is not over and projects such as these bring in the kind of ripple impact our communities so desperately need,” says Lee Jenkins of Performance Contractors in the ABC statement. “Without the growth spending of our anchor businesses that already face challenging business environments, Baton Rouge would be a different place.”