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Woodland Biofuels Inc. is planning a $1.35 billion investment at the Port of South Louisiana to establish one of the world’s largest renewable biofuels production facilities, Louisiana Economic Development announced Tuesday.
As part of the project, the Toronto-based company would utilize waste biomass to produce sustainable biofuel used in transportation, heating and electricity generation.
If the project moves forward as outlined, the company expects to create 110 direct new jobs with an average annual salary of more than $90,000. Woodlands Biofuels estimates that the project would support approximately 500 construction jobs.
The new facility, to be located at the Globalplex multimodal facility at the Port of South Louisiana, would include the largest renewable natural gas production plant in the world, according to the company. It expects to permanently remove hundreds of thousands of tons of carbon dioxide from the atmosphere annually and store it underground at a carbon sequestration site to be determined at a later date.
A front-end engineering design study for the site is anticipated to be finalized by the second quarter of 2025, with a final investment decision expected by the end of next year. Commercial operations for the first phase of the project—the renewable natural gas production plant—are projected to start in 2028.
To support the project, LED offered Woodland Biofuels an incentives package that includes a $10 million performance-based grant for infrastructure improvements and the comprehensive workforce development solutions of LED FastStart. The company is also expected to participate in the state’s Quality Jobs and Industrial Tax Exemption programs.
