“This new mill will create 22 new direct jobs and include a capital investment of $10 million,” Jindal said. “It will run two shifts, with the possibility of the company adding a third shift, which would increase the job total to around 30 new direct jobs. Construction on the mill will begin and end this year.”
Elton Kennedy, founder and president of Kennedy Rice Dryers, said the mill “will play an important role in producing and maintaining products that meet and exceed the safe quality foods standards produced by the Food Marketing Institute. We will use the latest Satake milling equipment and will include some of the most advanced technology in the industry. This addition will enable us to better serve our farmers and existing customers throughout the U.S. and reach out to new customers.”
To secure the project, the Louisiana Economic Development Department offered Kennedy Rice Dryers an incentive package that includes customized workforce solutions from Louisiana FastStart, a 5% to 6% rebate on new payroll expenses and certain sales taxes from the Quality Jobs program, property tax abatement for materials used in new manufacturing from the Industrial Tax Exemption Program, and performance-based financial assistance of approximately $300,000 for infrastructure improvements from the Economic Development Loan Opportunity Program.
