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MegadealsSubsidy Tracker Individual Entry
Company: Kennedy Rice Dryers, LLC
Parent Company:
Subsidy Source: state
Location: Louisiana
City: Mer Rouge
County: Morehouse
Address: 9176 Little Dee Road
Zip: 71261
NAICS Industry Code: 311212
Project Description: This project was designed to increase the storage capacity of the company due to the increased demand for rice. The company purchased and erected 10 storage bins that will hold 4.5 million pounds of rice each The storage bins are connected with a conveyor system that allows the loading and unloading of rice from the bins at one location. This conveyor system is part of the total end to end design of the bins and was purchased from American Grain Systems Inc as a package project. As a result, the conveyor costs were included as part of the Material and Equipment costs since it would not be used as a stand alone system. Due to the size and weight of the bins, the location site required ground preparation and concrete. The pad site for the bins was raised to prevent flooding and concrete was poured to handled the 10 bin system. A Louisiana company was hired to do all the electrical work to connect the storage bin system and the fans required to keep the rice from spoiling.
Year: 2023
Subsidy Value: $208,923
Program Name: Industrial Tax Exemption
Awarding Agency: Commerce & Industry Board
Type of Subsidy: property tax abatement
Number of Jobs or Training Slots: 5
Wage Data: $114,400
Wage Data Type: Estimated New Payroll
Capital Investment: $3,205,714
Source of Data:
(click here)
Notes: Year is Application Board Approval Date. Subsidy is the Estimated First Year Exemption multiplied by 5 (the number of subsidy years). Jobs figure is number of new positions. Investment data is the sum of Estimated Building And Material, Estimated Machinery and Equipment, and Estimated Labor And Engineering which equal the Total Estimated Investment. The subsidy can be renewed for additional 5 years. Search for possible associated entries.
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