What will Louisiana see from Exxon’s $20 billion ‘Growing the Gulf’ investment?
Exxon CEO Darren Woods touted his company’s ongoing $20 billion investment over 10 years in the Gulf Coast region — including the creation of more than 45,000 jobs — in a March 6 speech at a Houston energy conference. Although the program has been in place since 2013, President Donald Trump and Republicanspromoted it anew after recognizing the company’s plan aligns with their emphasis on industrial job growth and tipping the international trade scales in favor of the U.S.
A closer look at Exxon’s Growing the Gulf initiative finds many of its projects have been completed or are already underway, but Louisiana is still under consideration for the final major facility in the plan. Analysts in the energy sector say the state is well position for continued industrial investment, even if Exxon passes over Louisiana for this particular project.
The largest remaining piece in the Exxon’s $20 billion plan is Gulf Coast Growth Ventures, its collaboration with Saudi Arabian chemical manufacturer SABIC to build a plastics manufacturing facility along the Gulf Coast. Texas and Louisiana are considered the most likely spots for the project…