Calcasieu School Board approves Lotte Chemical ITEP application
Published 9:32 am Friday, September 20, 2024
- Production at Lotte Chemical’s ethylene glycol manufacturing plant in Westlake is underway. The plant is part of a $3.1 billion project, which also includes an ethylene cracker plant that will produce 1 million tons of ethylene per year. (Special to the American Press)
The Calcasieu Parish School Board approved an Industrial Tax Exemption for Lotte Chemical Louisiana at their meeting this week.
In February, Gov. Jeff Landry signed an executive order altering the ITEP approval process. Instead of letting individual local bodies that collect property taxes approve ITEP tax breaks, single parish industrial boards with representatives from each agency were formed.
Calcasieu’s single parish board includes CPSB President Eric Tarver, District 8; Calcasieu Parish Police Jury President Anthony L. Bartie; and Calcasieu Parish Sheriff’s Office Chief Financial Officer Nicole Ory. So far, this board has approved ITEPS for two solar facility projects: Crescent Coast Energy Center and Cajun Crossroads Energy.
The ITEP approved by CPSB on Tuesday was filed before the executive order went into effect, so the individual taxing bodies must approve it individually, said CPSB Attorney Greg Belfour.
The approved ITEP is for a 2023 project at Lotte Chemical – an ethylene manufacturing facility in Westlake. The total investment of the project is projected to be about $847,720, and the estimated property tax exemption (10 years at 80 percent) is $115,764.64.
The ITEP was approved with a vote of 11 to 2, with Vice President Desmond Wallace, District 14, and Tony O’Banion, District 10, in opposition.
Glenda Gay, District 3, and Dean Roberts, District 6, were absent.
