$18.5 million investment by SLB expected to result in more than 1,300 new jobs
SHREVEPORT, La. – SLB announced it is establishing a manufacturing facility in the former General Motors assembly plant in Caddo Parish. This new facility will leverage the global technology company’s capabilities in contract manufacturing, system integration and industrialization of digital infrastructure equipment that support its core mission of energy innovation for a balanced planet.
The company’s $18.5 million investment is expected to create 596 new direct jobs with an annual payroll of more than $50 million over the next three years. Louisiana Economic Development estimates the project will result in an additional 749 new indirect jobs, for a total of 1,345 new jobs in the Northwest Region.
“It’s hard to express just how much the former GM plant means to the people of northwest Louisiana,” Gov. John Bel Edwards said. “Bringing it back into commerce with new manufacturing jobs in a new sector is a historic milestone for economic growth, diversification and job creation in our state. SLB’s investment will breathe new life into this once-thriving business park and provide hundreds of new, high-paying jobs for our state’s skilled manufacturing workers. Louisiana finished 2022 with our highest levels of manufacturing employment in seven years, and with today’s announcement we see clear evidence of that positive momentum continuing in 2023 and beyond.”
Earlier this month, SLB signed a seven-year lease agreement with Shreveport Business Park to renovate and occupy 1 million square-feet of the former GM plant that has been vacant since 2012.
“LED and its nationally recognized workforce development program FastStart will be an important partner in helping us to find and train the skilled workforce that will make this project a success,” said Bruce Miller, SLB’s Vice President of Industry Affairs for North America. “We would also like to thank NLEP for their team’s responsiveness and dedication throughout this process. We look forward to creating hundreds of quality jobs locally, and to becoming a valued part of the Shreveport community.”
Recruitment for the nearly 600 new positions will begin in the coming weeks. SLB expects renovations of the Antoine Boulevard facility to be complete early next year. Production is estimated to reach full capacity by the end of 2026.
“The Caddo Commission welcomes this exciting news of additional economic development activity,” Caddo Commission President Roy Burrell said. “We stand fast to support this job development initiative to further reduce our unemployment rate by providing quality, well-paying jobs to support our middle-class growth.”
“The location of this new manufacturing facility in Caddo Parish is exciting news,” Shreveport Mayor Tom Arceneaux said. “We look forward to almost 600 new jobs with excellent pay and benefits for our community. The city will do everything it can to help SLB succeed in our area. It’s a great day for northwest Louisiana and Shreveport.”
To secure the project in Shreveport, the state of Louisiana offered SLB competitive incentives package which includes the comprehensive workforce development solutions of LED FastStart and a $4.5 million performance-based grant for building and infrastructure improvements upon meeting investment and employment targets. The company is expected to participate in the state’s Quality Jobs program.
“This win was made possible by the collaborative efforts of many groups and individuals,” North Louisiana Economic Partnership president and CEO Justyn Dixon said. “There has been a substantial shift in recent years for our community to work together and leverage the assets of north Louisiana, with Shreveport Business Park being a significant one. SLB, an incredible company, has acknowledged these efforts with their commitment to bring quality, well-paying manufacturing jobs to the area.”
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About SLB
SLB is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, SLB works each day on innovating oil and gas, delivering digital at scale, decarbonizing industries and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.
About LED
Louisiana Economic Development is responsible for strengthening the state’s business environment and creating a more vibrant economy. It is the only state agency in the U.S. accredited by the International Economic Development Council, boasting award-winning programs like LED FastStart, a longtime national leader in customized workforce development. LED also supports a wide range of higher ed partnerships that Business Facilities magazine recently credit for Louisiana’s ranking as the No. 1 Tech Talent Pipeline in the U.S. In 2022, LED attracted 53 new economic development projects representing 18,137 new direct, indirect and retained jobs and $20.7 billion in new capital investment. Explore how LED cultivates jobs and economic opportunity for the people of Louisiana and employers of all sizes at OpportunityLouisiana.com.