Ascentek Announces $50 Million Investment to Expand and Enhance Manufacturing and Distribution Facility in Shreveport – Louisiana Economic Development (.gov)

Ascentek, Inc. Announces $50 Million Expansion to Support Sustainable Growth

Investment and Job Creation

Ascentek, Inc., a leader in fluid and lubricant technology, has announced a $50 million investment to construct a new 270,000-square-foot manufacturing assistance facility and to enhance operations at its existing production and distribution center in Caddo Parish. This expansion aims to meet increasing global customer demand.

The project is expected to:

1. Create 91 direct new jobs in manufacturing, production support, and business administration.
2. Retain 105 existing positions.
3. Generate an estimated 247 indirect new jobs, totaling 338 potential new jobs in the Northwest Region.

Alignment with Sustainable Development Goals (SDGs)

The expansion supports several United Nations Sustainable Development Goals, including:

• SDG 8: Decent Work and Economic Growth – Through job creation and economic stimulation in the region.
• SDG 9: Industry, Innovation, and Infrastructure – By investing in advanced manufacturing technologies and infrastructure improvements.
• SDG 11: Sustainable Cities and Communities – Enhancing community safety and operational capabilities.
• SDG 17: Partnerships for the Goals – Collaboration between Ascentek, Louisiana Economic Development, and local government agencies.

Facility Enhancements and Community Impact

• Introduction of new high-speed production, material handling, and storage equipment to improve manufacturing efficiencies.
• Infrastructure improvements aimed at enhancing community safety and operational capacity.
• Commitment to creating a unique and supportive working environment for employees.

Strategic Partnerships and Incentives

To facilitate the project, Louisiana Economic Development (LED) provided a competitive incentive package, including:

• Workforce development solutions through the LED FastStart program.
• Participation in the Industrial Tax Exemption program.
• Engagement with the Quality Jobs program.

Statements from Key Stakeholders

• LED Secretary Susan B. Bourgeois: Highlighted the alignment of Ascentek’s innovation with the agency’s strategic plan and the importance of supporting existing businesses to create community opportunities.
• Ascentek President and CEO Chad Baker: Emphasized the company’s commitment to the Shreveport community through job creation, economic stimulation, and growth.
• Shreveport Mayor Tom Arceneaux: Recognized the investment as a vote of confidence in the city’s future, enhancing infrastructure and reinforcing Shreveport’s status as an advanced manufacturing hub.
• Caddo Parish Commissioner Stormy Gage-Watts: Expressed optimism about job creation and economic vitality resulting from the investment.
• North Louisiana Economic Partnership President and CEO Justyn Dixon: Affirmed the project’s validation of the region’s workforce, infrastructure, and strategic location.

Project Timeline and Historical Context

• Ascentek traces its origins to Lube-Tech, founded in 1925.
• Groundbreaking for the new facility is planned for late 2025.
• Construction is expected to take between 18 months and two years.

Opportunities for Job Seekers

Individuals interested in employment opportunities with Ascentek are encouraged to register here to receive notifications about job openings, hiring events, and company updates.

1. Sustainable Development Goals (SDGs) Addressed or Connected

1. SDG 8: Decent Work and Economic Growth
   • The article highlights job creation (91 direct new jobs and 247 indirect jobs), economic stimulation, and workforce development in the manufacturing sector.
2. SDG 9: Industry, Innovation and Infrastructure
   • The investment in a new manufacturing facility and improvements in production technology and infrastructure align with this goal.
3. SDG 11: Sustainable Cities and Communities
   • Infrastructure improvements to enhance community safety and operational abilities contribute to sustainable urban development.

2. Specific Targets Under Identified SDGs

1. SDG 8 Targets
   • Target 8.5: Achieve full and productive employment and decent work for all women and men, including young people and persons with disabilities, and equal pay for work of equal value.
   • Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation.
2. SDG 9 Targets
   • Target 9.2: Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry’s share of employment and gross domestic product.
   • Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies.
3. SDG 11 Targets
   • Target 11.2: Provide access to safe, affordable, accessible and sustainable transport systems for all, improving road safety, notably by expanding public transport.
   • Target 11.6: Reduce the adverse per capita environmental impact of cities, including by paying special attention to air quality and municipal and other waste management.

3. Indicators Mentioned or Implied to Measure Progress

1. Employment Indicators
   • Number of direct and indirect jobs created (91 direct new jobs, 247 indirect new jobs, retention of 105 current jobs).
   • Participation in workforce development programs such as LED FastStart.
2. Industrial and Infrastructure Indicators
   • Size and capacity of new manufacturing facility (270,000-square-foot facility).
   • Investment amount ($50 million) in industrial infrastructure and technology upgrades.
   • Implementation of new high-speed production, material handling, and storage equipment improving efficiency.
3. Community and Safety Indicators
   • Infrastructure improvements aimed at enhancing community safety and operational abilities.

4. Table of SDGs, Targets, and Indicators

Source: bossierpress.com