August 11, 2022

Ash Industries to Expand and Bring New Jobs to Lafayette

Ash Industries to Expand and Bring New Jobs to Lafayette

A molding company in north Lafayette will soon be expanding the size of its manufacturing facility to be twice the size that it is currently, and with the new space will be a need for 85 additional jobs, according to this article from The Acadiana Advocate.

Currently, Ash Industries employs 67 people at its West Willow Street facility where the company specializes in making customized injection molds for a variety of industries. Some examples of the type of industries that these specialized molds are made for include both military and electronics firms.

According to Louisiana Economic Development, the expansion of the Ash Industries facility’s manufacturing floor by an additional 20,000 square feet will create 85 new jobs, each with an average salary of $40,600, plus benefits. Additionally, according to LED, the expansion of the facility will also result in the creation of 120 indirect jobs inAcadiana. Expanding the manufacturing floor by 20,000 square feet will also involve the installation and adding of a chiller, expanse crane, and water cooling equipment, all of which will make day-to-day processes more streamlined and efficient.

Company President Hartie Spence said of the expansion, “Ash Industries is optimistic about the future of manufacturing in Louisiana and so far has launched phase one of a three-phase program to invest in jobs in our community. The ingredients of economic development in our industry are manufacturing space, a solid employee base, and the latest in cutting-edge manufacturing equipment. ASH’s current expansion will directly support and increase the services that we can provide customers who appreciate the benefits of having their products manufactured in our state.”

The state of Louisiana initially offered an incentive package that included the services of LED FastStart, a workforce development program. LED FastStart is noted as being the top workforce development program in the state of Louisiana, as it’s been recognized for its “innovation, effectiveness, flexibility and efficiency” by Business Facilitiesmagazine.

LED FastStart is a program that provides customized employee recruitment, screening, training, development, and training delivery for eligible, new, or expanding companies all at no cost. In fact, The Economist has described the program in the following manner: “probably the most notable statewide workforce-development initiative comes from Louisiana. Its FastStart program, which launched in 2008, helps companies recruit and train workers.”

By partnering with the LED FastStart program, Ash Industries will be able to benefit from a workforce development team that strives to ensure high-quality, flexible workers who are prepared “one day one and beyond.” In fact, according to LED, “the FastStart team includes dozens of experienced professionals from a range of businesses — manufacturing to corporate headquarters, digital media to customer support centers and R&D. FastStart has designed and delivered comprehensive workforce solutions for a wide variety of Fortune 500 companies, as well as high-tech companies funded by leading venture capital firms.”

In addition to FastStart, Ash Industries is also expected to participate in the Enterprise Zone (EZ Program) and the Industrial Tax Exemption programs. The Enterprise Zone Tax Credit program, as described by Louisiana Economic Development, is a jobs incentive program that provides Louisiana income and franchise tax credits to a new or existing business that is located within Louisiana. This business must also be creating permanent, net new full-time jobs and hiring at least 50% of those net new jobs from one of four targeted groups.

In addition to the EZ Program, Ash Industries will also be taking part in the Louisiana Industrial Ad Valorem Tax Exemption Program (ITEP), which (according to LED), is an original state incentive program, which offers an attractive tax incentive for manufacturers who make a commitment to jobs and payroll in the state.

 For more Louisiana-related articles, click here.

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