News Summary
Ascentek, Inc. has announced a significant $50 million investment to develop a new manufacturing facility in Caddo Parish, Shreveport, creating 91 jobs and retaining 105 existing positions. This expansion will enhance operations and is projected to generate a total of 338 jobs in the region. With groundbreaking set for late 2025, the facility is expected to boost local economic vitality and improve infrastructure, reaffirming Ascentek’s long-standing commitment to the community since its founding in 1925.
Shreveport, Louisiana: Ascentek, Inc. Announces Major Investment for New Manufacturing Facility
Ascentek, Inc. is set to invest $50 million to establish a new 270,000-square-foot manufacturing assistance facility in Caddo Parish. This significant investment is expected to enhance operations at its current production and distribution center while addressing the increasing demand from customers globally.
The expansion plans include the creation of 91 direct jobs in various fields, including manufacturing, production support, and business administration. In addition to these new positions, Ascentek will retain 105 current jobs, effectively maintaining employment stability within the community. Louisiana Economic Development estimates that the project will also generate 247 indirect jobs, culminating in a total of 338 potential new jobs in the Northwest Region.
Facility Enhancements and Infrastructure Improvements
The new facility will feature state-of-the-art high-speed production, material handling, and storage equipment designed to improve manufacturing efficiencies. Enhancement of infrastructure will play a critical role not only in operational capabilities but also in ensuring community safety.
This investment acknowledges Ascentek’s dedicated commitment to both customer support and the local community in Shreveport, which dates back to the company’s founding in 1925, originally under the name Lube-Tech.
Timeline and Economic Impact
Groundbreaking for the new manufacturing facility is scheduled for late 2025, with construction anticipated to take between 18 months and two years to complete. This timeline marks a promising new chapter for the company and the surrounding region.
In an effort to incentivize this major project, Louisiana Economic Development has provided Ascentek with a competitive incentive package that includes LED FastStart workforce development solutions. The company is also expected to engage in state programs such as the Industrial Tax Exemption and Quality Jobs programs, further solidifying its economic footprint in the area.
Community Reactions and Economic Outlook
Local leaders have applauded this investment as a significant boost for the economy and infrastructure of Shreveport. Caddo Parish Commissioner Stormy Gage-Watts highlighted the potential for enhanced local economic vitality and the creation of new jobs. Additionally, the President of the North Louisiana Economic Partnership, Justyn Dixon, regarded the expansion as a major win not only for Shreveport but for the entire Northwest Louisiana region.
The expansion underscores Ascentek’s long-standing dedication to the Shreveport community and serves as validation of the robust regional workforce and infrastructure available to support such growth. This investment reflects a promising trend towards economic development, job creation, and bolstered local industry in Caddo Parish.
Deeper Dive: News & Info About This Topic
HERE Resources
Ascentek Invests $50 Million to Expand Operations in Shreveport
Ascentek Invests $50 Million in Shreveport Manufacturing Facility
Shreveport Welcomes $50 Million Ascentek Expansion Project
Additional Resources
- Bossier Press: Ascentek Announces $50 Million Investment
- Wikipedia: Shreveport, Louisiana
- Business Facilities: Neuro IO Ascentek Inc. Invest $150M in Louisiana
- Google Search: Ascentek investment Shreveport
- Bossier Press: SWEPCO Marks Anniversary by Reviving Shreveport Skyline Beacon
- Encyclopedia Britannica: Economic Development
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.
