Formosa Plastics adding 340 permanent jobsFormosa Plastics adding 340 permanent jobshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=172382017-07-26T05:00:00Z2017-07-26T23:00:00Z

POINT COMFORT – Formosa Plastics Corp. has been undergoing a $5 billion expansion since 2015 and is scheduled to finish in late 2018. 

The expansion will add about 800 acres to the plant, bringing it to a total of 2,300 acres, and will add about 140 permanent jobs to Jackson County and 200 to Calhoun County.

The expansion will broaden the company's plastic resins product line by adding low-density polyethylene resins to increase the product mix and increase overall productivity.

Below are some quick facts about the Formosa expansion:

  • ​The expansion will add about 140 permanent company jobs in Jackson County and 200 in Calhoun County. ​​

  • Formosa U.S. company's sales totaled about $5.7 billion in 2015 with a $1.5 billion income before taxes.

  • Formosa Plastics Corp. Texas has 2,066 full-time company employees and 922 full-time contract staff, with a company payroll of about $135 million.

  • Jackson County officials approved an agreement that gave a six-year abatement in 2015. Between 2016 and 2021, instead of taxes, Formosa would pay the county $2.3 million.

  • Formosa's acreage is about 1,500 but will be about 2,300 after the growth project.
Victoria Advocate
https://www.victoriaadvocate.com/news/2017/jul/16/formosa-expansion-underway/Source: {Source}

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