More than 150 new employees will be created as a result of a significant investment made by a renewable energy company in order to expand its facilities in Caddo Parish.
Tuesday, April 25 was the day that the news was made.
A joint venture between Xignux and General Electric called Prolec GE USA has announced plans to invest up to $28.5 million in the expansion of its Caddo site in order to increase the production of electrical transformers for use in wind farms, solar parks, and other industrial applications involving renewable energy.
The investment will be broken down as follows: around $19.7 million will go toward the purchase of new machinery and the installation of a third manufacturing line; the remaining money will be used toward the improvement of the existing site and infrastructure.
150+ new jobs coming to the area as part of the project
The corporation has stated that it intends to bring 153 new positions into existence, some of which will be for machine operators, while others will be for maintenance personnel, managers, and engineers. Additionally, the company plans to keep all 282 of its current positions. According to projections provided by the Louisiana Economic Development, the project will also result in the creation of an additional 162 employment that is indirect.
“I applaud Prolec GE for recognizing the business growth opportunity presented by the shift to cleaner fuel sources, and I thank them for choosing Louisiana to serve those new and growing energy producers,” Governor John Bel Edwards said.
“I applaud Prolec GE for recognizing the business growth opportunity presented by the shift to cleaner fuel sources.” “The economy of northwest Louisiana will grow as a result of this expansion, and our state’s highly skilled and capable manufacturing workforce will have more than 300 new job opportunities to choose from.” Our state is in an excellent position to serve as a model for the rest of the country and the world as they transition to more environmentally friendly forms of energy.
Prolec GE is in the business of designing, manufacturing and selling products and systems for the generation, transmission, and distribution of electrical power. The company provides its services to a diverse range of industries, including the engineering sector as well as the traditional energy sector and the renewable energy sector.
“The hardworking and dedicated people of Louisiana were the main driver behind our decision to invest in our Shreveport operations,” stated Sergio Eduardo Fernandez, Business Unit Director for Prolec GE, who commented on the company’s decision to invest in Shreveport operations. “We are excited about the prospects for the continued growth of the company as well as the enhancement of our community.”
Early in the year 2023, work on expanding and modernizing the facility by 200,000 square feet. The development of the third production line at Prolec GE is scheduled to begin in the summer, and the company anticipates that it will be finished in March of 2024. The business anticipates reaching full production by the end of June in the year 2024.
Xignux-GE will invest up to $28.5 million to develop its Caddo Parish facility to produce electrical transformers.
“Shreveport has a long and exemplary history of industrial and manufacturing dedicated employees,” stated Shreveport Mayor Tom Arceneaux. “Shreveport has a long and exemplary history of industrial and manufacturing.”
“We are really happy about the $28.5 million capital investment that will be made by Prolec GE, as well as the employment that will be brought to Shreveport and Caddo Parish as a result of this initiative. Existing businesses that are eager to make new investments in the neighborhood and contribute to the expansion of our labor force present us with yet another possibility.
We are really fortunate to have Prolec GE grow its footprint in Shreveport in terms of both the amount of capital invested and the number of jobs created.
In order to entice Prolec GE to move forward with the project, Louisiana provided the company with significant incentives. These included a performance-based payment of $500,000 to cover the costs of building, equipment, and the introduction of the new product line.
Officials from the state said that the company will likely submit an application to participate in the Industrial Tax Exemption and Quality Jobs program.
“Our existing industry in north Louisiana continues to make a significant impact on the community,” said Justyn Dixon, President and Chief Executive Officer of the North Louisiana Economic Partnership. “Prolec GE’s new job creation is a substantial contribution to it,”
Mr. Dixon added. This extra investment in Caddo Parish is a testament to the steadfast workforce and robust business climate in north Louisiana. We would want to extend our congratulations to the Prolec GE team and let them know how proud we are to have them as a part of the ecosystem in north Louisiana.