SHREVEPORT, LA— Business development in Louisiana in 2013 Employment in Louisiana is at an all-time high and last year was the best year in six years for business development for the state, a trend which looks to continue this year.

Lubrication Technologies Inc. (Lube-Tech) announced plans to renovate a manufacturing facility in Shreveport. The $16 million capital investment is projected to create 75 new direct jobs by the end of 2016 and with additional indirect jobs the project will result in a total of 280 new jobs in Louisiana.

The Lube-Tech 226,000-square-foot manufacturing facility, the company's first major investment in the South, will be located in a former General Motors assembly plant. The facility will manufacture lubricants for power sports, marine and outdoor power equipment markets. 

"Lube-Tech is excited to expand our Custom Brands business serving Power Sports, Marine and Outdoor Power Equipment OEMs to the Southern United States," said Chris Bame, CEO of Lubrication Technologies. "We were pleased with Louisiana Economic Development's help in finding a location, providing relocation funding, and assisting with employee recruitment and training. LED [Louisiana Economic Development] representatives proactively identified solutions to challenges in an entrepreneurial spirit that reflects our company culture."   

The State of Louisiana presented the company with a performance-based Economic Development Loan Program incentive of $750,000 and according to LED Lube-Tech is anticipated to utilize the state's Quality Jobs and Industrial Tax Exemption programs.

"Louisiana had its best year for business development in the last six years, securing more retained jobs, more new jobs and more capital investment than in any of the previous five years," noted Gov. Bobby Jindal in reference to 2013 business development in the state. 

Minnesota-based Lubrication Technologies manufactures processes and distributes lubricants, fuels and fluids for use in transportation, automotive, industrial and small-engine markets and ships products globally.

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