Congratulations to our client, Kennedy Rice
GOV. JINDAL, KENNEDY RICE DRYERS ANNOUNCE NEW RICE MILL IN MER ROUGE
Expansion to result in 22 new direct jobs and represent $10 million capital investment
Today, Gov. Bobby Jindal joined Kennedy Rice Dryers Founder and President Elton Kennedy, U.S. Rep. Rodney Alexander and Louisiana Department of Agriculture and Forestry Commissioner Mike Strain to announce Kennedy Rice Mill, a subsidiary of Kennedy Rice Dryers, will establish a new rice mill in Mer Rouge.
This project will create 22 new direct jobs and represent a capital investment of $10 million. The mill will run two shifts, but could add a third shift, which would increase the job count to roughly 30 new direct jobs. Construction on the mill will begin and end during calendar year 2011, and Kennedy Rice Dryers estimates there will be 50 construction jobs created with the project. Louisiana Economic Development estimates the 22 new direct jobs will result in 85 new indirect jobs and will generate approximately $3.5 million in new, state tax revenue and nearly $1.2 million in new, local tax revenue over the next 10 years.
Once complete, the new mill will be one of the few new rice mills built in the region over the last quarter century, and will be the only rice mill from Southern Arkansas to I-10. As a result, farmers in North Louisiana will have a new market for their rice with more favorable freight rates. The new mill is also expected to process 30 percent to 40 percent of the Northeast Louisiana rice crop, and approximately 95 percent of Kennedy Rice Mill's sales will ship to out-of-state destinations.
Read more about the new Kennedy Rice Dryers' mill.
Louisiana Economic Development Update Feb. 22, 2011