Tire recycling company invests $46 million to build its first U.S. plant in Louisiana
Life for Tyres Group Limited (L4T) has announced plans to open its first U.S. processing facility at the Port of South Louisiana. The company, which focuses on manufacturing sustainable commodities from waste tires, will invest $46 million into the project, creating 46 new jobs for the surrounding area. The facility will be used to convert end-of-life tires into products like advanced biofuel feedstock, recovered carbon black and scrap steel. The company will receive a competitive incentives package for locating the new plant in Louisiana. These incentives include the workforce development solutions of LED FastStar, a $1 million performance-based grant, and participation in Louisiana’s Industrial Tax Exemption and Quality Jobs programs.
In a recent quote, L4T CEO Tilen Milicevic said, “We are very excited about expanding our operations in the U.S. in the state of Louisiana and being part of its energy transition. A strong industrial ecosystem, the availability of qualified personnel and suppliers, excellent connectivity, abundance of feedstock and proximity of our final clients are just a few of the many reasons why L4T Group, following a thorough market study, decided for Louisiana to be home to our first investment in the U.S. We are looking forward to a long and fruitful partnership with the Port of South Louisiana and to being good corporate citizens for the state of Louisiana.”
Investing in American Manufacturing - 2024
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