BATON ROUGE, La. — Today, Gov. John Bel Edwards highlighted the selection of Grön Fuels’ proposed renewable fuels complex in West Baton Rouge Parish as the nation’s No. 2 project in Business Facilities magazine’s 2020 Economic Development Deal of the Year competition. Fidelis Infrastructure announced in November that its portfolio company Grön Fuels is studying the feasibility of a $9.2 billion complex at the Port of Greater Baton Rouge, where it plans to produce low-carbon diesel fuel from renewable feedstocks.
Through all phases, the complex would create an estimated 1,025 new direct jobs, with an average annual salary of $98,595, plus benefits. Louisiana Economic Development estimates the project would result in up to 4,560 new indirect jobs, for a total of 5,585 new jobs for Louisiana’s Capital Region. A final investment decision is expected from Grön Fuels in 2021, which will determine the final cost of the project’s first phase.
“Louisiana’s long history as an energy state will be enhanced by our commitment to environmentally friendly energy production,” Gov. Edwards said. “This Silver Award in Business Facilities’ Deal of the Year competition recognizes our commitment to next-generation projects that will meet the growing global demand for renewable transportation fuels. We look forward to Grön Fuels’ final investment decision as Louisiana’s next significant climate-forward project.”
The Grön Fuels refinery would be the largest project at the Port of Greater Baton Rouge in 20 years. The 141-acre complex would produce up to 180,000 barrels per day of low-carbon diesel from non-fossil feedstocks, including soybean oil, corn oil and animal fats.
“Louisiana is a national leader in fossil fuels, but it is busy preparing for a green future,” Business Facilities Editor in Chief Jack Rogers said.
The magazine offered more than 40 project nominations announced in locations across the U.S. in 2020 to an independent panel of judges that made the final selections for the 2020 Economic Development Deal of the Year competition. The awards are presented to projects that create a significant number of quality jobs, increase the tax base and otherwise stimulate the economy.
Business Facilities called its 2020 awards competition “one of its most competitive Deal of the Year contests to date.” In addition to the Silver Award for Louisiana, judges selected the Tesla Gigafactory plant in Austin, Texas, for its Gold Award and Centene’s Regional Headquarters in Charlotte, North Carolina, for the Bronze Award.
The Grön Fuels project is the latest Louisiana investment to be recognized by Business Facilities in its annual Economic Development Deal of the Year Awards. During the past decade, Business Facilities recognized Sasol Ltd. in Lake Charles and DXC Technology in New Orleans (Silver Awards), Formosa’s FG LA project in St. James Parish (Bronze Award) and the IBM Client Innovation Center in Baton Rouge and Nucor in St. James Parish (Honorable Mention).
About Business FacilitiesBusiness Facilities is a national publication that has been the leading location source for corporate site selectors and economic development professionals for more than 50 years. For more information, visit BusinessFacilities.com.
Louisiana Economic Development is responsible for strengthening the state’s business environment and creating a more vibrant Louisiana economy. LED cultivates jobs and economic opportunity for the people of Louisiana, and promotes business opportunity for employers of all sizes. For more information, visit OpportunityLouisiana.com.