SWLA Economic Development Alliance responds to Sasol announcement

SWLA Economic Development Alliance responds to Sasol announcement

SOUTHWEST LOUISIANA (KPLC) - The Southwest Louisiana Economic Development Alliance said it is continuing its work to encourage more industrial growth and economic diversification within the five-parish area in light of Sasol's Wednesday announcement of an adjusted company strategy.

President and CEO of the Alliance, George Swift said:

"We appreciate the tremendous $11 billion investment that Sasol is making in our region. This is one of the largest projects in the world. The announcement today by Sasol reflects global oil prices. We are confident that the company will utilize the several hundred acres that it already owns to bring additional industrial facilities."

According to the Alliance, the Lake Charles Chemicals Project (ethane cracker unit) that is currently under construction, will establish Sasol facility as an integrated, multi-asset site that will enable growth for decades to come and provide a strategic platform for further investment in the chemicals business in the long run.

Alliance Vice President of Business and Workforce Development, R.B. Smith said:

"The $11 billion ethane project has already created 500 permanent industrial jobs at Sasol's new facility. More than 8,000 construction workers were on site at peak construction for that facility. Sales tax revenues for local taxing authorities have increased exponentially as a result of this construction project. Our region has other projects that will have similar impacts like Sasol's ethane cracker unit construction. As we continue to grow our economy, our region will grow and main street will reap more rewards."

Currently, the Alliance reports $45 billion in industrial construction within the five-parish area underway with more than $60 billion pending.

Our region has other projects that will have similar impacts like Sasol's ethane cracker unit construction, added Smith. As we continue to grow our economy, our region will grow and main street will reap more rewards.

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