Moret questioned closely on fuel plant incentives
BATON ROUGE - Gov. Bobby Jindal's economic development chief has been undergoing close questioning by a panel of legislators over millions of dollars in state incentives for development of a huge new fuel plant in southwestern Louisiana.
Some members of the Joint Legislative Budget Committee complained to Stephen Moret it's difficult to plan budgets because they often don't know how much some tax incentives will cost Louisiana.
The questions arose Friday as Moret pushed for committee approval needed to move forward with a plan for Sasol Ltd. to build a multibillion-dollar complex in southwest Louisiana.
Moret said the concerns were unfounded in the Sasol case because tax revenue from the project, which will create more than 1,200 permanent jobs, will outstrip the cost of incentives, even in the project's early stages.