Panel delays incentives on SW La. fuel plant
BATON ROUGE - A legislative committee has delayed approval of incentives for a huge fuel plant planned for southwestern Louisiana, with some members complaining they don't have enough information about the cost of tax incentives used to lure the facility.
Gov. Bobby Jindal's economic development chief, Stephen Moret, fought the delay.
Moret said the project by South African energy company Sasol Ltd. will - from the beginning - create more tax revenue than the state grants in incentives.
But the Joint Budget Committee delayed the project until its next meeting - likely in two weeks. Some members complained that a lack of information on the cost of incentives make the creation of an annual budget difficult.
Approval of a Lockheed-Martin project also was delayed, without discussion.