The Baton Rouge Area Chamber and Gov. John Bel Edwards today announced Tokyo-based Mitsubishi Chemical Corp. is studying the feasibility of building a methyl methacrylate manufacturing complex in Geismar. A final investment decision by MCC on the greenfield project is expected by mid-2022.
The proposed project, with an anticipated capital investment exceeding $1 billion, would create 125 new direct jobs with an average annual salary of $100,000, plus benefits. Louisiana Economic Development estimates the project would also result in another 669 new indirect jobs across the Capital Region.
Methyl methacrylate, or MMA, is a building block for acrylic-based polymers. MMA is found in paints, adhesives, glazes, lighting displays, building panels, bath fixtures, flat-screen monitors and several other products.
BRAC and LED began discussions with the company about a potential MMA plant in 2016. To secure the project, the state of Louisiana offered MCC an incentive package that includes the LED FastStart program as well as a $4 million performance-based grant to offset infrastructure costs, payable in two equal installments in 2024 and 2025 as capital expenditures are certified. In addition, MCC is expected to utilize the state’s Quality Jobs and Industrial Tax Exemption programs.
MCC would develop what’s billed as the world’s largest and most modern MMA complex, with an estimated production capacity of 350,000 tons per year. The company would build on a 67-acre greenfield site it has acquired from synthetic rubber manufacturer Lion Elastomers. With a final investment decision, MCC would begin construction activities leading to initial operations as soon as 2025. See the announcement.