Jindal announces expansion of New Iberia company - KLFY News 10

Jindal announces expansion of New Iberia company

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Governor Bobby Jindal continued his 64- parish economic development tour with a stop in New Iberia, Monday morning; where he announced the expansion of bolted steel manufacturing company, American Tank Company, INC.

The New Iberia based company will invest two million dollars in Iberia Parish for the construction of a new facility.

"One point two million dollars will be invested in the facility and over 800,000 dollars will be used to purchase new equipment," Jindal said.

America Tank will also commit to using Louisiana vendors, which Jindal said will keep an estimated 95 percent of project spending in the state.

Owners Larry and Rochelle Romero, expressed their appreciation and joy over the announcement.

"I told my wife I wouldn't cry, but I know I am going to do it," Larry began with tears in his eyes. "It's like (the) dream becomes a reality."

Son and Sales Manager, Scott Romero agreed, " It's been 27 years we have been in business and it's been a roller coaster ride both emotional and financially."

An almost 300,000 dollar loan from Louisiana's Economic Development Loan Program, as well as tax incentives allowed the company to expand instead of relocate. The company which focuses mainly on the construction of bolted storage tanks for the oil and gas industry was able to purchase eight acres next to its existing facility. The facility is expected to increase from 5,000 square feet to 20,000 square feet. They are expected to add almost 40 new jobs, bringing their total employment up to over one hundred.

Jindal expressed an importance of helping local businesses grow. Scott thanked the state for it's cooperation and said, "If we can provide an opportunity to keep (a certain) amount of people here and provide them with a good job and also increase the jobs that we have it can make those jobs better."

Construction is expected to start mid-summer, with an expected completion date of mid 2014. The Romero's hope to begin hiring new employees in the first year of production.

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