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Marine Log Workers
T. Parker Host has reworked the previous Avondale Shipyards web site in South Louisiana into Avondale International Gateway, a thriving hub for trade. [Photo: T. Parker Host]
In simply over a yr since its reopening by T. Parker Host (Host) on the positioning of the previous Avondale Shipyards, Avondale International Gateway (AGG) has confirmed to be a major heart of commerce, producing financial development for Louisiana’s Jefferson Parish.
After remodeling a as soon as dormant 275-acre shipyard web site right into a thriving hub for trade, Host reviews that in calendar yr 2023 it’s on observe to have moved a couple of million tons of cargo on the web site, has signed Sesco Cement and Gulf Wind Expertise as long-term tenants and has seen a steady stream of ships on the docks.
Host has taken this success and invested in communities throughout South Louisiana by donating over $300,000 to native charities reminiscent of United Manner Southeast Louisiana, The NOLA Coalition, Bridge Metropolis Fireplace Division, Son of a Saint and extra.
Over the summer season, AGG contracted its third long-term tenant, Sesco Cement, which plans to take a position $40 million on the web site over the following few years. Since then, AGG has moved greater than 100,000 tons of cement, a good portion of which was destined to be used in Louisiana’s increasing LNG trade.
With the signing of Sesco Cement and Gulf Wind Expertise, AGG secured main tenants in its goal trade clusters centered round meals merchandise, development supplies and renewable vitality. Via these trade clusters, Host goals to draw tenants that profit from proximity to one another so as to add worth to cargo shifting by means of the positioning and to enhanced provide chain logistics at AGG.
“After not seeing a ship on the web site in many years, many had given up on ever seeing Avondale Shipyard as soon as once more generate financial prosperity for the West Financial institution and the State of Louisiana. Now Jefferson Parish’s West Financial institution sees a steady stream of ships arriving at Avondale, some from so far as Korea, importing important cargo like windmill blades,” stated Adam Anderson, CEO and chairman of T.Parker Host. “As we shut out 2023, we’re proud that Avondale International Gateway has created a whole lot of jobs, introduced new industrial enterprise and ship visitors to the area, and returned the positioning to profitability. That is all in only one yr. There may be much more to return as we proceed bringing financial success to Jefferson Parish’s West Financial institution.”
As AGG seems ahead to 2024, Host says that it’ll proceed to develop the positioning by attracting extra industrial tenants, growing river, rail and street shipments on the property and is happy with the latest completion of its $2 million renovation and improve to the gate complicated, in partnership with the Jefferson Parish Financial Growth Fee.
With AGG totally developed, the area stands to achieve greater than 2,000 on-site jobs, greater than 3,000 further jobs throughout the state, $32 billion in whole financial output, and an $8.6 billion enhance in Louisiana payrolls, says Host, citing financial impression report by Stephen R. Barnes, Ph.D. The brand new exercise has the potential to generate $554.9 million in new state tax income and $286.9 million in new gross sales tax income to profit Jefferson Parish.
