News Summary
Ascentek has announced a $50 million investment to build a 270,000-square-foot manufacturing facility in Caddo Parish, Louisiana. This expansion is expected to create 91 new jobs while retaining 105 positions. Construction is set to begin in late 2025 and aims to streamline operations for the company’s fluid, lubricant, and chemical production. Additionally, the expansion includes new incentives and community support to enhance local job opportunities and economic growth.
Caddo Parish Announces Major Manufacturing Expansion by Ascentek
Ascentek, a leader in fluid and lubricant technology, is set to invest $50 million in a significant expansion in Caddo Parish, Louisiana. The company plans to construct a 270,000-square-foot manufacturing assistance facility aimed at meeting growing global demands. The expansion is expected to create 91 direct new jobs and retain 105 current positions within the community.
The new facility will not only support Ascentek’s existing production and distribution center near Shreveport but also enhance operational efficiencies in industrial fluid, lubricant, and chemical manufacturing processes. The Louisiana Economic Development (LED) has projected that this initiative could lead to a total of 338 potential new jobs in the Northwest Region when indirect jobs are considered.
Details of the Expansion
Construction of the facility is anticipated to commence in late 2025, with an estimated completion timeframe of 18 months to two years. The expansion underscores Ascentek’s ongoing commitment to the Shreveport area, emphasizing its strategic decision to remain close to key customers located in the Southeast and Deep South regions. The Shreveport location is particularly advantageous for the oil business.
Ascentek’s new facility will focus on multiple sectors, including automotive, power sports, marine, and aviation. The company aims to branch out into new markets through its division, Voltage Vault, which is concentrating on sodium ion battery technology.
Local Impact and Economic Incentives
To facilitate the expansion and new jobs, Caddo Parish has proposed adding new traffic lights to improve access to the upcoming facility. Ascentek has reported a high level of interest in job opportunities among local residents, with between 40 and 50 resumes received due to community referrals. The company has implemented a competitive incentive package in collaboration with Louisiana Economic Development that includes the state’s Quality Jobs program, an Industrial Tax Exemption, and workforce assistance to support its growth.
Ascentek, originally founded as Lube-Tech in 1925, has built a strong reputation over the decades. The company has been at the forefront of advancements in fluid technology, particularly those intended for rigorous applications involving aircraft engines. The adherence to strict safety standards in this sector amplifies the company’s commitment to quality manufacturing.
Conclusion
The $50 million expansion by Ascentek marks a significant development for Caddo Parish, promising not only job creation but also a boost to the local economy. With this strategic initiative, Ascentek is poised to enhance its operational capabilities while continuing to innovate in the fields of fluid and lubricant technology, alongside its exploratory ventures into battery manufacturing.
Deeper Dive: News & Info About This Topic
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Additional Resources
- Shreveport-Bossier Advocate
- Wikipedia: Manufacturing
- Business Facilities
- Google Search: Ascentek expansion
- The Center Square
- Google Scholar: Fluid Technology
- Encyclopedia Britannica: Economic Development
- Google News: Caddo Parish Ascentek
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.
