expansion
Affiliated Mortgage Company announces expansion in Monroe
Benchmark Bank's subsidiary, Affiliated Mortgage Co., or AMC, of West Monroe, La., recently committed to retain and expand its operations in Northeast Louisiana. Benchmark Bank originally considered moving AMC operations to another state to accommodate the expansion, but the company decided to stay and grow in the Monroe area. Full article.
Cleco secures financing for future expansion
Cleco Corp. recently announced that Cleco and its subsidiary, Cleco Power LLC, recently finalized a revolving credit facility to strengthen liquidity and allow for future growth. Combined, the two new credit facilities equal $500 million. In other Cleco news, Mike Madison was elected vice chairman of the statewide Committee of 100 for Economic Development. Full article.
Folgers begins multi-facility expansion in greater New Orleans
Gov. Bobby Jindal joined the J.M. Smucker Co. for the official groundbreaking of Folgers' expansion of two existing coffee production facilities in Orleans Parish and its distribution center in St. Tammany Parish. Folgers announced the expansion in March 2010, which will retain 450 existing jobs, create 120 new, direct jobs at an average annual salary of $42,000, plus benefits, and represent a capital investment of $69 million. Full article.
Which companies are boosting spending and hiring?
With U.S. companies sitting on an estimated $1.8 trillion in cash, it raises the question: Why aren't they deploying more of their hoard to expand their businesses? Although capital spending in the U.S. is up 12 percent since the lows of early 2009, it's still running below the first quarter of 2008. Some companies, however, are taking big, if calculated, chances, including ambitious capital projects, hiring new workers, and expanded investment in research and development. Full Article.
Lessons learned: A tale of two malls
The Mall of Louisiana and the Cortana Mall faced similar challenges since the recession caused national retailers to halt expansion and close stores across the country. Now that the national retail community is seeing some recovery, they have a shared goal: to position themselves to exploit the growth. Full Article.
Triage expanding to accommodate large numbers of birds
Tri-State Bird Rescue and Research will expand to accommodate the birds coming in from the Gulf of Mexico oil spill. Plaquemines parish gave Tri-State permission to expand and build additional cages to house more birds. The cleaning process is a big undertaking that causes a lot of stress to the birds; brown and white pelicans, gulls, terns and cattle egrets that come in are endangered not only from the oil that coats their feathers, but also from the stress that results from being cleaned. Full Article.
Lafayette presses for broadband in D.C.
Lafayette officials urged D. C. lawmakers to take the "shackles" off local governments so they can offer much-needed broadband service, particularly in areas where providers won't do business now. Lawmakers are debating how to expand broadband service in communities throughout the country, particularly in rural counties in the South. Full Article.
Bruce Foods Corp. Announces Plant Expansion in New Iberia
Gov. Bobby Jindal and Bruce Foods Corp. President and CEO J.S. "Si" Brown announced Bruce Foods will expand one of its two Louisiana-based plants. The expansion represents an overall capital investment of $5 million, will create 43 new jobs and approximately 112 new indirect jobs. Full Article.
Marathon Oil expands Garyville facility
The recent Marathon Oil expansion in Garyville ranks as the priciest capital project in Louisiana history, and was so big that the site’s 105 engineers took to bicycling their way to work stations. Full Article.
Folgers expands LA operations
The Folgers Coffee Co. recently agreed to expand its two production plants and a distribution center in St. Tammany Parish. The expansion will create 120 new positions and retain 450 current jobs. Full Article.
