On Oct. 10, Gov. Bobby Jindal announced the stateâ??s commitment of $2.3 million in public-infrastructure dollars to Gulf Island Fabricationâ??s $29 million expansion into the marine sector.

The dollars will be used to construct an industrial-grade roadway, drainage system and a sewerage collection system. The project is a public one, meaning that it will go to public bid and infrastructure constructed will ultimately be owned by public bodies. In exchange for the loan, the company is signing a contract with the state to create 200 jobs; when the contract is fulfilled satisfactorily, the loan is converted to a grant. The performance-based infrastructure grant was awarded through the Economic Development Award Program.

â??Gulf Island Fabrication's decision to expand in Houma, as opposed to expanding outside the state will have a major impact on the economy in Terrebonne Parish,â?� said Michael Ferdinand, chief executive officer of Terrebonne Economic Development Authority. â??The expansion secures a commitment to the community.â?�

This expansion will create at least 200 new, permanent jobs, with an average annual salary of $53,000 per year, not including benefits. In addition, the company will retain 1,300 jobs as part of this expansion.

â??This is another great example of the value of prioritizing the growth and development of our existing employers. Gulf Island could have pursued this project in Texas or some other state, but they are doing it here in Louisiana because of the quality of our workforce and the high level of local and state support they continue to receive,â?� said Louisiana Economic Development Secretary Stephen Moret.

In his address Oct. 10 at the companyâ??s expansion site, Jindal said â??expanding and growing our existing Louisiana businesses is our number one goal in economic development. We have to start by ensuring that we are supporting our existing Louisiana companies already in the state, and build on that success by recruiting businesses and industries from all across the country and the world. This expansion project at Gulf Island Fabrication will create 200 new high-paying jobs in Terrebonne Parish, and retain hundreds more. This is exactly the kind of business success, job creation, and economic expansion that we must further in order to make Louisiana the best place in the world to raise a family, get a quality education, and pursue a great career.â?�

Gulf Island Fabrication is Terrebonne Parishâ??s largest private employer.