On April 18, Industrial manufacturer Fibrebond Corporation announced a $50 million expansion and enhancement of its production facility in Webster Parish, bolstering its support for data center, telecommunications, industrial, and utility projects across the United States.
The expansion project is expected to retain more than 450 existing jobs in the Northwest Region, with Louisiana Economic Development estimating nearly 650 indirectly supported jobs in the state, totaling approximately 1,100 retained and indirectly supported jobs.
“On behalf of the State of Louisiana, I want to thank Fibrebond Corporation for investing more than $100 million in Webster Parish over the past three years, providing quality jobs for the Northwest Region’s skilled workforce,” said LED Secretary Susan B. Bourgeois. “This is an incredible example of a family company and what you have been able to do here and the risk you have taken in Louisiana and the investment that you have already made in Louisiana. This state and this department are both grateful to you and here to support you in the continuation of that work.”
Fibrebond, the largest employer in Webster Parish, will construct a new 297,000 square foot production facility to accommodate the wiring and installation of electrical gear in the concrete and steel modular buildings it produces – a time-consuming and value-added element of production. The company anticipates that the new facility, along with new equipment and other improvements, will increase the location’s total production capacity by more than 50 percent.
“The pace of our growth has increased since we began expanding our Minden campus in May 2022, driven broadly by the digitization and electrification trends,” said Fibrebond President and CEO Graham Walker. “The expansion in Louisiana makes the most sense for our business. We have added 180 direct and 100 subcontractor jobs in the past 15 months, and all of those people are building for projects across the country. Our ability to automate and scale with quality is only possible because of the employees we have in north Louisiana. The workforce here is the main asset of this business.”
This expansion will bring Fibrebond’s total manufacturing and warehouse space to more than 1 million square feet on its 254-acre campus. Construction is set to begin in June 2024, with commercial operations scheduled for September 2025.
“Today is a great day, not only for Fibrebond but for Minden,” stated Mayor Nick Cox. “The expansion of Fibrebond’s facility is a testament to their enduring partnership with Minden. For over four decades, Fibrebond has been a cornerstone of our economy, and this significant additional investment highlights their role as a pivotal force in our city’s economic growth and showcases our community’s potential as a leader in the manufacturing sector.”
To secure the project, Louisiana Economic Development offered a competitive incentive package featuring a performance-based Retention and Modernization Tax Credit valued at nearly $1.7 million over five years, contingent on investment, job retention, and payroll targets being met.
“Fibrebond’s continued investment in Northwest Louisiana and Minden is a sign of the company’s ability to succeed in this region. We celebrate the continued success of companies like Fibrebond, knowing that their achievements contribute significantly to the overall vitality of this region,” said Justyn Dixon, President and CEO of the North Louisiana Economic Partnership (NLEP).
