{"id":1004122017,"date":"2015-06-25T06:41:16","date_gmt":"2015-06-25T14:41:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004122017"},"modified":"2022-12-09T00:35:59","modified_gmt":"2022-12-09T08:35:59","slug":"monsanto-to-get-comfortable-in-louisiana","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/monsanto-to-get-comfortable-in-louisiana\/","title":{"rendered":"Is There Chemistry Between Monsanto, CRE?"},"content":{"rendered":"
\"Brent<\/a>

Brent Garrett, Beau Box RE<\/p><\/div>\n

By Gail Kalinoski, Contributing Editor<\/em><\/p>\n

Louisiana\u2019s industrial market would be the first commercial real estate sector to benefit from a potential $1 billion expansion by Monsanto at its Luling, La., over the next three to five years but there should be positive impacts on office, multi-family and retail sectors as well, according to a CRE executive in the region.<\/p>\n

\u201cIt really solidified the need for those service companies to be in this area. The trickle-down effect is that they will expand their operations and increase their footprints in this region. It\u2019s what we have been seeing as these announcements come out,\u201d Brent Garrett, executive vice president of Beau Box Real Estate, told Commercial Property Executive<\/em>. The firm has offices in New Orleans, Baton Rouge and Lafayette, La.<\/p>\n

Monsanto President & COO Brett Begemann and Louisiana Gov. Bobby Jindal said Wednesday that the chemical giant had made a decision for a preliminary investment to expand the St. Charles Parish plant that makes Roundup Ready Xtend Crop System. Pending a final decision by the company\u2019s Board of Directors in early 2016, Monsanto could invest more than $1 billion at the Luling plant, where dicamba, an active ingredient in crop protection products, is produced. The company last expanded the plant in 2010, when it added 26 new jobs and an estimated 166 indirect jobs to the region.<\/p>\n

The new project would retain the current 645 jobs at the plant and create about 95 new positions with average salaries of about $76,500 per year. The Louisiana Economic Development office estimates that the project would result in an additional 450 indirect jobs in the state and would also generate about 1,000 construction jobs.<\/p>\n

\u201cOur Luling facility is a logical site uniquely positioned in the center of Monsanto\u2019s manufacturing network, with convenient access across the Americas where the Roundup Ready Xtend Crop System has a fit,\u201d Begemann said in a news release. \u201cThe state\u2019s highly skilled workforce and business-friendly environment also put Louisiana at the top of our list for this potential expansion.\u201d<\/p>\n

The LED began formal discussions with Monsanto in March. The state has offered the corporation a performance-based $5 million Modernization Tax Credit and a performance-based $1.7 million Economic Development Award Program grant to reimburse rail and electrical infrastructure expenses for the expansion. Monsanto will also be able to take advantage of other state incentives including the Quality Jobs and Industrial Tax Exemption programs.<\/p>\n

\u201cThis investment not only would retain hundreds of valuable jobs in our state but provide many more great career opportunities for Louisiana families,\u201d Jindal, a Republican who formally announced his intention to seek the GOP presidential nomination on Wednesday, said in the prepared statement.<\/p>\n

Garrett said the fact that Monsanto has a plant in Luling \u201cshould tell us it\u2019s a good possibility of the expansion happening because of the existing infrastructure compared to a new facility.\u201d<\/p>\n

He said his firm is \u201cgetting calls from the indirect benefactors looking for places to locate their businesses.\u201d Garrett said industrial sectors will see the immediate benefit if Monsanto expands followed by engineering companies seeking additional office space.<\/p>\n

Garrett noted that the drop in oil prices has \u201ccaused folks to tap the brakes a little bit in the first half of the year,\u201d but he expected the Monsanto announcement along with other new expansions and projects in the lower Mississippi River corridor will give the region a strong second half.<\/p>\n

He said multi-family and retail sectors will also improve on good news like the potential Monsanto expansion.<\/p>\n

\u201cWe\u2019re very bullish about these expansions and the positive impact that they should have on the economy,\u201d he told CPE<\/em>. \u201cWe\u2019re optimistic and hopefully this is a trend that will continue for quite some time.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Experts think so, and they say the effects of the chemical company\u2019s newest expansion will cut across quite a few property sectors.<\/p>\n","protected":false},"author":952,"featured_media":1004122018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,21747,21749],"tags":[],"class_list":["post-1004122017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-office","category-retail"],"acf":[],"yoast_head":"\nIs There Chemistry Between Monsanto, CRE? - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/monsanto-to-get-comfortable-in-louisiana\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is There Chemistry Between Monsanto, CRE?\" \/>\n<meta property=\"og:description\" content=\"Experts think so, and they say the effects of the chemical company\u2019s newest expansion will cut across quite a few property sectors.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/monsanto-to-get-comfortable-in-louisiana\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-06-25T14:41:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T08:35:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/BG-website-pic.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"336\" \/>\n\t<meta property=\"og:image:height\" content=\"338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/monsanto-to-get-comfortable-in-louisiana\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/monsanto-to-get-comfortable-in-louisiana\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"Is There Chemistry Between Monsanto, CRE?\",\"datePublished\":\"2015-06-25T14:41:16+00:00\",\"dateModified\":\"2022-12-09T08:35:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/monsanto-to-get-comfortable-in-louisiana\\\/\"},\"wordCount\":631,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/monsanto-to-get-comfortable-in-louisiana\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/BG-website-pic.jpg\",\"articleSection\":[\"Industrial\",\"Investment\",\"News\",\"Office\",\"Retail\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/monsanto-to-get-comfortable-in-louisiana\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/monsanto-to-get-comfortable-in-louisiana\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/monsanto-to-get-comfortable-in-louisiana\\\/\",\"name\":\"Is There Chemistry Between Monsanto, CRE? 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