Lafayette Region Energy
A Global Leader
Acadiana’s stretch of highway 90, also known as America’s Energy corridor is dominated by hundreds of companies supporting the oil and gas industry. Over 80 percent of offshore oil rigs are located off the coast, offering a tremendous opportunity for companies manufacturing products or delivering services to the energy industry.
Significant investments in Acadiana include:
Executive VP, Economic Development
One of the world’s largest providers of products and services to the energy industry, has successfully taken advantage of Acadiana’s strategic location and experienced workforce for decades. While it maintains operations in 80 countries, Halliburton continues to demonstrate its preference for this region where it employs approximately 1,000 people. In response to global market demand and following a competitive site search, Halliburton selected Lafayette for its $65 million investment in a new manufacturing facility in 2010. In 2015, Halliburton consolidated several completion services facilities, and opened its new Integrated Completions Center in New Iberia, an additional $45 million investment in this region.
Operating out of its regional headquarters in Morgan City, Oceaneering International offers its Gulf Coast customers remotely operated vehicles, built-to-order specialty subsea hardware, deepwater intervention and manned diving services, non-destructive testing and inspection, and more. Oceaneering’s focus is deepwater drilling making Acadiana a perfect base for its operations.
What began as a one-crew casing company operating out of a garage in 1938 has grown into a remarkable entrepreneurial success story in Acadiana. Working with customers such as Shell, ExxonMobil, and Chevron, Frank's International established itself as a true pioneer in deepwater services. While Frank’s now spans the globe, operating in over 60 countries, its Acadiana location remains its flagship where it employs several hundred people to complete its manufacturing operations.
Acadiana values its energy industry, and will align state and local resources to provide customized incentive packages for businesses looking to grow.
A few standard incentives are outlined below:
Industrial Tax Exemption Program
Provides a 100% property tax abatement for an initial five-year term with an option for a five-year renewal on manufacturer’s qualifying capital investments.
Provides up to a 6 percent cash rebate of annual gross payroll for new, direct jobs for up to 10 years. It could also provide a 4 percent sales/use tax rebate on capital expenditures or a 1.5 percent investment tax credit for qualified expenses.
Digital Interactive Media and Software Development Incentive
The nation’s strongest, most comprehensive incentive for software development. Eligible projects receive up to a 35% refundable tax credit for payroll expenditures.
You can find a full list of standard incentives by visiting our incentives page:
A Better Bottom Line
Rankings as a low-tax environment with reduced operating costs make Louisiana the right choice:
- No. 1: Lowest tax burden in the U.S. for new capital-intensive and labor-intensive manufacturing operations.
- No. 2: Second-lowest industrial electricity rates in the South, averaging 19 percent below the national average between 2012-2014.
- No. 1: Lowest industrial natural gas rates in the South, averaging 18 percent below the national average between 2012-2014.
- No. 1: Acadiana has lower manufacturing wages than Louisiana, the South, and the U.S.
A right-to work state for more than three decades, Louisiana ranks in the Top 10 for lowest rates of private workforce unionization. It is also home to LED FastStart, the nation’s No. 1 state workforce development program, which creates customized workforce recruitment, screening, and training solutions. A number of Louisiana universities have specific programs and research strengths related to the energy industry and graduate new chemical engineers each semester.
University of Louisiana at Lafayette
UL Lafayette's College of Engineering is its largest undergraduate program boasting over 2,700 undergraduate students, 177 master’s students, and 41 PhD students representing 45 states and 25 countries. The college focuses on providing “hands-on” learning experiences with a strong emphasis on internship and cooperative learning experiences. Over 200 companies regularly recruit its Engineering and Technology graduates.
Louisiana State University
LSU is the only university in North America where future petroleum engineers can get hands-on training in well control by working at a full-scale research and training facility. The Petroleum Engineering Research & Technology Transfer Laboratory — also commonly referred to as the Well Facility — is an industrial-scale facility with full-scale equipment and instrumentation related to borehole technology.
Marine Safety Center, Morgan City
A part of the South Central Louisiana Technical College system, this center moved a portion of training to water front property in 2005. Located on the new site is a hydraulic crane, a flashover fire trainer, GMDSS lab, and state of art Radar simulation lab offering state-of-the-art training to the offshore drilling workforce.
Learn more about our capable workforce:
Access and Infrastructure
Acadiana is a prime location for your business. A logistical hub, the region is strategically located at the intersection of Interstates 10 and 49. It provides access to 38 interior states via the Mississippi River and countless international markets via the Gulf of Mexico. Within the Acadiana region alone are: TWO commercial airports, THREE Class I rail systems, FIVE coastal ports, and TWO inland ports.
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