Taiwanese investment stimulates Louisiana’s economy
Investment from Taiwan solidifies Louisiana’s economy. Taiwanese companies have invested — and reinvested — in Louisiana for decades. That Taiwanese foreign direct investment underscores why, for the past decade, Louisiana has been second in the U.S. for per capita FDI. Since 2015, Taiwanese companies have announced $9.5 billion dollars in Louisiana investment and over 1,240 new direct jobs.
NOTABLE TAIWANESE INVESTMENT IN LOUISIANA
- Nan Ya Plastics Corporation – Power and automation technology group, $4.40 million investment
- Westlake Chemical Corporation – Expansion resulting in an additional 164 new indirect jobs, for a total of more than 180 new jobs in the state
- Formosa Petrochemical Corp. – In September 2015, Formosa Petrochemical Corp. announced the company is studying the feasibility of a $9.4 billion industrial complex in St. James Parish, where the company would build two project phases producing ethylene and a host of downstream chemical products. The project would create 1,200 new direct jobs. Louisiana Economic Development estimates the project will also result in 8,000 new indirect jobs. Upon completion of both phases, Taiwan-based Formosa would have developed one of the largest, single-site ethylene production complexes in the world.
“We believe strategic growth in petrochemicals in the future will be in the U.S., especially in Louisiana. It is the right and perfect location for our company's next development base. With our experience, we will not only focus on the industry itself to improve economics, but also take serious consideration of environmental issues.”
Bao-Lang Chen, Chairman
TRADE BETWEEN TAIWAN AND LOUISIANA
EXPORTS TO TAIWAN
|
| Mineral Fuel, Oil Etc.; Bitumin Subst; Mineral Wax |
$785.9 million |
| Milling Products; Malt; Starch; Inulin; Wht Gluten |
$347.1 million |
| Organic Chemicals |
$78.1 million |
| Meat And Edible Meat Offal |
$28.8 million |
| Rubber And Articles Thereof |
$18.7 million |
| Miscellaneous Chemical Products |
$11.4 million |
| Plastics And Articles Thereof |
$9.3 million |
| Cereals |
$9 million |
| Inorg Chem; Prec & Rare-earth Met & Radioact Compd |
$4.8 million |
| Nuclear Reactors, Boilers, Machinery Etc.; Parts |
$2.3 million |
Total
|
$1.2 billion
|
IMPORTS FROM TAIWAN
|
| Iron And Steel |
$170.2 million |
| Leather Art; Saddlery Etc; Handbags Etc; Gut Art |
$24.7 million |
| Nuclear Reactors, Boilers, Machinery Etc.; Parts |
$19.8 million |
| Organic Chemicals |
$14.5 million |
| Electric Machinery Etc; Sound Equip; Tv Equip; Pts |
$13.8 million |
| Rubber And Articles Thereof |
$10.4 million |
| Plastics And Articles Thereof |
$6.6 million |
| Articles Of Iron Or Steel |
$4.4 million |
| Vehicles, Except Railway Or Tramway, And Parts Etc |
$3.8 million |
| Furniture; Bedding; etc. |
$3.3 million |
Total
|
$271.8 million
|
LOUISIANA REPRESENTATION IN TAIWAN
Louisiana has a local representative, Nicholas V Chen, based in Taipei, Taiwan. If you would like to reach him, email [email protected] or call 886-2-5588-1788.