News Summary
Ascentek, Inc. is investing $50 million to establish a new manufacturing assistance facility in Shreveport, Louisiana, expected to create 338 new jobs. The facility will enhance operations at the existing production center and support growth in fluid and lubricant technology. Local leaders commend the investment as a significant boost to the regional economy, with the facility’s groundbreaking slated for late 2025.
Shreveport – Ascentek, Inc. is investing $50 million to establish a new manufacturing assistance facility in Shreveport, Louisiana, a move expected to create a total of 338 new jobs in the region. The announcement was made by the North Louisiana Economic Partnership, highlighting a significant step in bolstering local employment and supporting the company’s expanding global customer demand.
The new facility will cover an area of 270,000 square feet and will enhance operations at Ascentek’s existing production and distribution center located in Caddo Parish. This expansion aims to increase manufacturing capabilities and support the company’s cutting-edge work in fluid and lubricant technology.
According to estimates from Louisiana Economic Development, the project will directly create 91 new jobs in various sectors, including manufacturing, production support, and business administration. Additionally, the expansion will help retain 105 existing positions at the current facility. The ripple effect of this investment is projected to result in an additional 247 indirect jobs, bringing the total potential new job count in Northwest Louisiana to 338.
As part of the facility upgrade, Ascentek plans to install new high-speed production, material handling, and storage equipment to enhance efficiency in manufacturing processes. Infrastructure improvements will also be incorporated to improve community safety and operational capabilities, further demonstrating the company’s commitment to local development.
Ascentek’s President and CEO, Chad Baker, outlined the company’s dedication to the Shreveport community and emphasized the importance of job creation in the region. The company will break ground on the new facility in late 2025, with construction timelines estimated to range from 18 months to two years.
Investment Details
Ascentek has a long history, evolving from Lube-Tech with roots dating back to 1925. The company is set to benefit from Louisiana’s competitive incentive package, which aims to attract investments and foster growth within the state. This package includes workforce development solutions through LED FastStart, designed to offer training and resources tailored to the company’s needs.
Additionally, Ascentek is anticipated to engage with the state’s Industrial Tax Exemption and Quality Jobs programs, providing further financial benefits that could enhance its operations in Shreveport.
Community Response
The investment has garnered praise from local leaders, with Shreveport Mayor Tom Arceneaux expressing that this expansion marks a strong vote of confidence in the city, highlighting its potential for future growth. Caddo Parish Commissioner Stormy Gage-Watts also recognized the positive economic implications of the investment and its potential to significantly enhance local infrastructure.
Justyn Dixon, President of the North Louisiana Economic Partnership, underscored the significance of Ascentek’s expansion as a pivotal development for both Shreveport and the broader Northwest Louisiana region, reinforcing the area’s position as a growing hub for manufacturing and technology.
Conclusion
The establishment of Ascentek’s new facility in Shreveport marks a vital investment in the local economy, creating direct employment opportunities and strengthening community infrastructure. As the company prepares to break ground in 2025, anticipation grows for the positive change it is expected to bring to the economic landscape of Northwest Louisiana.
Deeper Dive: News & Info About This Topic
HERE Resources
Shreveport Welcomes $50 Million Ascentek Expansion Project
Additional Resources
- KTBS: Ascentek Announces $50M Expansion
- Wikipedia: Louisiana
- Business Facilities: Ascentek Inc Invests in Louisiana
- Google Search: Ascentek
- Bossier Press: SWEPCO Marks Anniversary
- Encyclopedia Britannica: Manufacturing
- Business Facilities: Industries
- Google News: Shreveport
Author: STAFF HERE SHREVEPORT WRITER
The SHREVEPORT STAFF WRITER represents the experienced team at HEREShreveport.com, your go-to source for actionable local news and information in Shreveport, Caddo Parish, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Mudbug Madness Festival, Red River Revel Arts Festival, and Independence Bowl. Our coverage extends to key organizations like the Shreveport-Bossier Chamber of Commerce and Shreveport Regional Arts Council, plus leading businesses in gaming, healthcare, and energy that power the local economy such as Horseshoe Casino, Ochsner LSU Health, and Atmos Energy. As part of the broader HERE network, including HEREBatonRouge.com and HERENewOrleans.com, we provide comprehensive, credible insights into Louisiana's dynamic landscape.
