Ascension grants Methanex rebates for new plant
DONALDSONVILLE - The Ascension Parish Council has approved rebating significant incentives to Methanex Corp. for relocating a $550 million methanol plant from Chile to Geismar.
Methanex, of Vancouver, Canada, announced in April it would bring a second methanol plant to Ascension Parish after initially announcing in January 2012 it would make a $400 million investment in the parish by bringing a plant to Geismar.
The incentives package would rebate a half-cent of eligible sales tax on the purchase of construction materials, with 45 percent of that going to Methanex and 5 percent going to the Ascension Economic Development Corp.
The expected rebate, approved Thursday, is estimated at $450,000.