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BASF

Geismar/Capital Region

The Mission 

BASF Corporation is the North American affiliate of the German company BASF SE, a European multinational company and the largest chemical producer in the world. BASF has more than 16,700 employees in North America and had sales of $25.9 billion in 2021.

The Challenge

BASF aimed through the final phase of a three-part expansion to double production capacity at its chemical manufacturing complex in Ascension Parish and produce 600,000 metric tons of methylene diphenyl diisocyanate (MDI) per year.

The Opportunity

Louisiana offered a competitive incentive package that included:

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Performance-based Retention and Modernization Tax Credit of $1 million, to be claimed in equal installments over five years.

Qualified 80-percent property tax abatement for up to 10 years through the state’s Industrial Tax Exemption Program, contingent on meeting job creation and payroll commitments.

Up to a 6 percent rebate on annual payroll expenses for up to 10 years, and a 1.5 percent project facility expense rebate for qualifying expenses, through the state’s Quality Jobs program.

Performance-based Retention and Modernization Tax Credit of $1 million, to be claimed in equal installments over five years.

Qualified 80-percent property tax abatement for up to 10 years through the state’s Industrial Tax Exemption Program, contingent on meeting job creation and payroll commitments.

Up to a 6 percent rebate on annual payroll expenses for up to 10 years, and a 1.5 percent project facility expense rebate for qualifying expenses, through the state’s Quality Jobs program.

The Outcome

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2022

BASF announced a final investment decision marking the beginning of the third and final phase of an expansion plan announced in 2018.

$780 million

capital investment

37

direct new jobs

147

indirect new jobs

1,000+

retained jobs

$86,000 to $105,000

average annual salaries

2022

BASF announced a final investment decision marking the beginning of the third and final phase of an expansion plan announced in 2018.

$780 million

capital investment

37

direct new jobs

147

indirect new jobs

1,000+

retained jobs

$86,000 to $105,000

average annual salaries

“Thanks to our strategic location and infrastructure, access to competitive raw materials, highly skilled workforce and strong government support, BASF has now invested more than $2 billion in new projects and improvements at the Geismar site since 2009. This continued investment demonstrates our commitment to our employees, our community and our presence in Louisiana, which is more than 60 years strong.”

– Jerry Lebold, BASF Senior Vice President and General Manager

Noteworthy

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