WAGGAMAN, LA Gov. John Bel Edwards, Incitec Pivot Limited Chairman Paul Brasher, and Cornerstone Chemical CEO Greg Zoglio dedicated the $1.025 billion production plant that includes the combined construction of Dyno Nobel's $850 million ammonia plant with Cornerstone Chemical's $175 million investment in upgrades and infrastructure. Incitec Pivot, based in Australia, is the parent company of Dyno Nobel, which developed the plant with an annual ammonia capacity of 800,000 metric tons at Cornerstone Chemical's 800-acre Fortier Manufacturing Complex on the west bank of the Mississippi River in Jefferson Parish.

At the dedication event, Gov. Edwards joined company leaders to unveil a plaque commemorating the plant's completion and the cooperative effort behind it.

Construction of Dyno Nobel's new ammonia plant launched in August 2013, and ammonia production has begun at the facility. Dyno Nobel estimates construction employment peaked at 1,200 workers. There have been 65 new direct jobs created by the project, with 16 of those employed by Dyno Nobel and 49 by Cornerstone Chemical all at the Dyno Nobel ammonia plant. LED estimates the project will result in another 477 new indirect jobs, for a total of more than 540 new jobs. Salaries for the new direct jobs will average more than $55,700 per year, plus benefits, and the project will retain 450 existing jobs at the Cornerstone site.

"The dedication of this new plant is the culmination of the months and years of cooperation among Incitec Pivot, Dyno Nobel, Cornerstone Chemical, the state of Louisiana and our partners to create great new opportunities for our people," Gov. Edwards said. "Considering our highly skilled workforce, our geographic resources, and the robust economic development partnerships on the state, regional and local levels, companies from all across the globe continue to look to Louisiana as a smart and strategic destination for their next business investment. The investment by these companies is a testament to our strong global position. We congratulate Incitec Pivot, Dyno Nobel and Cornerstone Chemical on the start of this new chapter for their respective companies, and we look forward to the great opportunities they will create for Louisiana and communities."

The ammonia production facility utilizes state-of-the-art technology, and upon completion will rank among the most-efficient ammonia plants in the world. Additionally, the plant incorporates control technologies to produce the lowest air pollution of any ammonia facility to date.

LED's Business and Expansion Retention Group, or BERG, began discussing the project with Incitec Pivot Limited and Cornerstone Chemical Company in April 2011 and worked closely on the project with JEDCO, the Jefferson Parish Economic Development Commission, and Greater New Orleans Inc., or GNO Inc. To secure the project, the state offered a competitive incentive package that included a Modernization Tax Credit of $3 million for Cornerstone Chemical, to be claimed over five years, along with the services of LED FastStart®, the nation's top-ranked state workforce training program. Cornerstone Chemical and Dyno Nobel also are expected to utilize the state's Industrial Tax Exemption and Quality Jobs programs.

"The completion of this project represents the culmination of the largest capital project since JEDCO's inception nearly 30 years ago," said JEDCO President and CEO Jerry Bologna. "Dyno Nobel's decision to locate its ammonia production facility in Jefferson Parish confirms this area's role as an international player in the economic development community and speaks volumes to our attractive offerings: excellent infrastructure; the collaboration between state, regional and local entities; and a world-class, business-focused economic climate. We are thrilled to be a partner in this project and look forward to assisting Dyno Nobel as they begin operating in our community."