Formosa Plastics Corporation, Texas, has been named a qualified project under the Texas Jobs, Energy, Technology, and Innovation (JETI) program for its new facility in Jackson County. The company plans to invest $150 million in the site to produce C6 (1-Hexene), an organic compound used as a feedstock at their existing complex in Point Comfort for manufacturing polyethylene.
Governor Greg Abbott commented on the announcement: “Texas leads the nation in chemical production and exports. This $150 million investment by Formosa Plastics will grow good-paying jobs for Texans, expand economic opportunity in Jackson County, and further our state’s manufacturing leadership. With Texas’ unmatched business operating advantages and easy access to domestic and global markets, Texas manufacturers offer an efficient, reliable supply chain for critical materials used in the production of everyday products.”
Jack Wu, Vice President of Business Development at Formosa Plastics Corporation, Texas, said: “We appreciate Governor Greg Abbott’s Texas Economic Development & Tourism Office, the Texas Comptroller of Public Accounts Office, and the Palacios Independent School District (ISD) Board for approving our application. Property tax is an important factor when determining a site location for expansion projects. This type of approval helps move projects forward, which will support long-term economic development in the region and benefit the community.”
Senator Joan Huffman stated: “Formosa Plastics’ investment is a testament to Jackson County’s economic potential and its skilled workforce. This project is a big win for Jackson County, and I look forward to the positive impact it will have on the local economy.”
Representative AJ Louderback also remarked: “Formosa Plastics has been a key part of our region’s economic growth and success for years. This new facility and the jobs it brings will keep the momentum going. I’m excited to see our community continue to grow and am grateful to Governor Abbott for his commitment to helping Texans thrive.”
Jackson County Judge Jill S. Sklar added: “Formosa Plastics has long been a valued part of our community. Their continued investment brings new opportunities for our residents, strengthens our local economy, and reaffirms Jackson County as a great place to live and work.”
Dr. Jared Duncum, Superintendent of Palacios ISD said: “Formosa Plastics has been an important part of our community for years. We look forward to a continued relationship with this important industrial partner.”
More information about Formosa Plastics Corporation, Texas can be found online.
