School board approves Exxon tax break, pushing company closer to huge BR refinery project
1 month 3 weeks 4 days ago
Thursday, February 18 2021
Feb 18, 2021
February 18, 2021 5:16 PM
February 18, 2021
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Source: WBRZ
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BATON ROUGE – ExxonMobil’s quest for a tax break tied to a possible modernization of its local refinery was not sidelined by the EBR school board Thursday.
The board approved the tax break – known as ITEP.
In January, the Louisiana Board of Commerce and Industry backed the tax break. The EBR Metro Council will have to decide on the tax break next. The sheriff already approved it.
Exxon wants the tax breaks to compete for a quarter-of-a-billion dollar project to upgrade the refinery and make the facility more viable for the current business climate.
Baton Rouge energy giant ExxonMobil is a step closer to a big expansion
2 months 2 weeks 3 days ago
Friday, January 29 2021
Jan 29, 2021
January 29, 2021 6:04 PM
January 29, 2021
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Source: WBRZ
BATON ROUGE - Tax breaks for upgrades at ExxonMobil s Baton Rouge refinery cleared a major hurdle Friday.
The State Board of Commerce and Industry signed off on a tax break which Exxon says is needed for the quarter-billion-dollar project.
Exxon wants to bring its plant up to 2021 standards, making it competitive globally. This project helps us to retain the hundreds of jobs in Baton Rouge. When we retain jobs for the hundreds of direct employees that work at our refinery, that means we re always hiring, Gloria Moncada, refinery manager for ExxonMobil Baton Rouge said.
ExxonMobil might invest more than $240 million at its Baton Rouge, La., refinery, a Louisiana state agency reported last week.
Exxon Mobil Corp. (NYSE: XOM) might invest more than $240 million at its Baton Rouge, La., refinery, the Louisiana Economic Development (LED) department reported last week.
“ExxonMobil has operated in Baton Rouge for more than 110 years and has provided high-quality jobs for decade at the integrated refinery and chemical plant complex,” remarked Louisiana Gov. John Bel Edwards in an LED written statement emailed to Rigzone.
According to LED, the proposed suite of projects would improve the 517,000-barrel-per-day refinery’s processing capability, increase flexibility for meeting market demand, boost overall site competitiveness and install technology that would voluntarily cut volatile organic compound emissions by 10 percent. LED added the projects are pending final engineering, design and investment decisions, and the agency pointed out that ExxonMo