NEW ORLEANS—Today, Governor Bobby Jindal joined Transportation Consultants Inc., or TCI, Founder and CEO Jack Jensen, New Orleans Mayor Mitch Landrieu, Port of New Orleans President and CEO Gary LaGrange, and Entergy New Orleans President and CEO Charles Rice to announce that TCI will use new pellet packaging equipment and increased rail capacity to expand its container traffic capabilities at the Port of New Orleans.
TCI's expansion is the second phase of a project that began in 2009, with the first phase representing a capital investment of approximately $10.4 million and the second phase representing a capital investment of $3.2 million. The first phase will retain 62 jobs and 45 owner-operated truck driver positions. The second phase will create 60 new, direct jobs at an average annual salary of nearly $48,000, plus benefits. The Louisiana Department of Economic Development (LED) estimates that the second phase will also create 20 new, indirect jobs, and generate $3.6 million in new, state tax revenue and $1.6 million in new, local tax revenue over the next 10 years.
Governor Jindal said, "TCI's expansion will improve the company's ability to capture additional container traffic that would have otherwise gone to out-of-state ports and at the same time, the expansion will strengthen the competitiveness of the Port of New Orleans. Most importantly, this announcement means that yet another Louisiana-based company is growing within our borders and we're creating and retaining good jobs for our people so they can pursue their dreams right here at home. This increased investment is also proving that business leaders are taking advantage of our healthy business climate, and they are recognizing the growth opportunities available in New Orleans and in our state."
"This project is about investing in our port industry in New Orleans," said Jensen. "The $13.6 million investment will keep TCI and its 120 jobs in New Orleans for a long time to come. Without the Port of New Orleans, The New Orleans Public Belt Railroad, Entergy, the Mayor and Governor Jindal's commitment to this project, we could not collectively increase international container traffic at the Port."
"TCI's relocation and expansion will bring new jobs, new tax revenue and a growing, diversifying business to New Orleans," said Landrieu. "We are pleased to welcome companies like TCI to the City and will continue to aggressively pursue good-paying jobs for our residents."
To help secure the second phase of this project, LED committed $.5 million from the Enterprise Zone Program and $.4 million from the Economic Development Loan Program. TCI will use the financial assistance to build a rail spur connected to The New Orleans Public Belt Railroad, which will enable the company to handle plastic pellet shipments from Louisiana's chemical manufacturers that are currently being sent to the Port of Houston by rail. These shipments will now be packaged at TCI and shipped out of the Port of New Orleans, reducing the time it takes to get these shipments to market and increasing pellet container volumes.
For Phase I, TCI used GO Zone bonds and New Markets Tax Credits to begin construction on a container terminal and warehouse facility at the current site. Once complete, this phase will retain 62 jobs and 45 owner-operated truck driver positions and it represents a $10.4 million capital investment.
"This investment gives the local transportation sector the tools to handle chemical products more efficiently," said LaGrange. "It also allows Louisiana to maximize the economic impact of these home-grown products. Plastic pellets will continue to generate jobs and economic activity for the state, even as they move down the Mississippi River and are shipped to buyers around the world."
"We're delighted to work with the Port and LED to help ensure TCI's expansion is successful," said Rice. "This project is an excellent example of the growth opportunities available in the trade and logistics sector in New Orleans."
About Transportation Consultants, Inc.
Headquartered in New Orleans, Transportation Consultants, Inc. is a full service logistics and warehousing services provider specializing in container yard services, intermodal transportation and international logistics consulting.