Subsidy Tracker Individual Entry

Company: 
Westlake Vinyls Company, LP
Parent Company: 
Westlake Chemical
Subsidy Source: 
multiple
Location: 
Louisiana
City: 
Geismar
County: 
Ascension
Address: 
36045 Hwy 30
NAICS Industry Code: 
325211
Project Description: 

Geismar 250,000 ECU Chlor-Alkali Facility

Year: 
2014
Major Industry of Parent: 
chemicals
Specific Industry of Parent: 
chemicals
Subsidy Value: 
$82,291,884
Program Name: 
multiple
Awarding Agency: 
Commerce & Industry Board
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
66
Wage Data: 
$6,191,328
Wage Data Type: 
New jobs annual payroll
Capital Investment: 
$425,000,000
Source of Data: 

The subsidy value and the jobs and payroll figures came from 2014 Louisiana Commerce & Industry Board disclosure site at http://www.opportunitylouisiana.com/assets/LED/docs/Performance_Reportin.... Information on possible Quality Jobs payments, GO Zone Bonds, and overall investment is taken from Deron Talley, ?Jindal, Westlake Chemical Ceo Albert Chao announce completion of New Chlor-Alkali Plant in Geismar,? Gonzales Weekly Citizen (Ascension, Louisiana), February 27, 2014; online at http://www.weeklycitizen.com/article/20140226/NEWS/140229679

Notes: 

The subsidy package is for Westlake Chemical's chlor-alkali plant in Geismar and includes $82.3 million over 10-year in property tax exemption via Industrial Tax Exemption. The company is also expected to utilize the state's Quality Jobs program; however the value of this tax break has not yet been disclosed. The state also helped the company to secure $89 million in GO Zone Bonds, the value of which is not included in the total. Overlap with main Subsidy Tracker data: a 2014 $82,291,884 entry for Industrial Tax Exemption program for Westlake Vinyls Company, LP.

Source Notes: 
If an online information source is not working, check the Tracker inventory page for an updated link.