More Good News For Ascension Parish: Shell Chemical Expansion of $717,000 Million and Honeywell To Build $300 Million Plant equals over 1 Billion Dollars into 2016. This could mean more good news for North Ascension Parish (or County) housing market.
There are currently 33 new residential developments under construction to meet the demand of buyers, making it feel like 2005 after Hurricane Katrina all over again. PLUS, Greater Baton Rouge was ranked in the Top 10 Hottest Housing Markets of 2016 nationally.
There’s been more than a dozen good economic news reports for Ascension Parish in 2015 and here’s the second for 2016: per WBRZ News, Honeywell to build new $300,000,000 plant in Geismar Louisiana. The first good news for 2016 was “Shell Chemical to spend $717 million to expand Geismar plant” per WBRZ News report and video
Per WBRZ News, “
"Honeywell will build a new auto-refrigerant plant in Geismar.
The plant is part of $300 million the company is investing to increase production of a new refrigerant for automobiles. The company says the new product's global-warming potential is 99.9 percent lower than that of the current refrigerant in use, and even lower than carbon dioxide. "The technology is going to be reducing greenhouse gases with a 99.9 percent reduction, compared to the current type of refrigerant, so I think that's world changing kind of stuff," said Chris Loar, Ascension Parish Council Chairman. The expansion comes on the heels of a major pull out by Shell, but Parish President Tommy Martinez knows it's not the end of the road for Ascension. "We're not gonna win them all, but we're gonna win some and there's some big ones on the books, not in the magnitude of 10.5 billion, but we've got a couple of them that's going to be in the billions," said Martinez. The new Geismar plant is expected to begin operating in 2016. How big the plant will be depends on supply agreements with Honeywell's major customers.”
NOTE: Local Ascension Parish REALTOR® Randy Anderson collects these Good News articles and catalogs them here: Good News For Our Area
NOTE: Baton Rouge Ranking Image Source is: Wirelss IQ Online Marketing for REALTOR® Trey Willard