Origin Materials Announces $750 Million Sustainable Materials Facility in Ascension Parish
Plant-based plastics manufacturing project expected to result in more than 1,000 direct and indirect new jobs
Origin Materials, a carbon-negative materials company committed to leading the global transition to sustainable materials, announced in February that the company plans an investment of at least $750 million to develop a biomass manufacturing facility in Ascension Parish that will result in 1,057 new direct and indirect jobs.
Origin Materials was created in 2008 and is based in West Sacramento, California. In the development of recyclable, plant-based PET plastic consumer products, the business has collaborated with leading consumer brands such as Danone, Nestlé Waters and PepsiCo, as well as Ford Motor Company and worldwide chemical corporations.
Plant-based polyethylene terephthalate (PET) will be produced in Geismar using sustainable wood residue supplied in part from Louisiana's timber mills and managed forests. PET is used in packaging, textiles, garments, and other products. The site will also produce hydrothermal carbon, which can be used in fuel pellets.
The project will result in the creation of 200 new direct positions with an average salary of more than $90,000 plus benefits. LED estimates the Capital Region will gain an additional 857 indirect jobs. The company projects 500 construction jobs at the peak of construction.
The plant will be located on an LED Certified Site – the 150-acre Parks Geismar site in Ascension Parish. Construction is expected to commence in 2023, with the facility being mechanically complete and operational by 2025.
Louisiana is providing Origin Materials a competitive incentive package that includes the services of LED FastStart. Additionally, the company would be eligible for a $6 million performance-based award to reimburse site infrastructure costs. The company is also expected to utilize the state’s Quality Jobs and Industrial Tax Exemption program.