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9/12/2024
TCI Tank Logistics this week announced plans to invest $2 million to add 1,200 linear feet of rail that will tie into the New Orleans Public Belt Railroad and serve customers at the Port of New Orleans (NOLA).
The project is slated to be completed in April 2025. The company expects to create 40 direct new jobs over the next 10 years with an average annual salary of $60,000, while retaining 41 jobs in Orleans Parish, according to a Louisiana Economic Development (LED) press release.
The LED estimates the project will result in 94 indirect new jobs, for a total of 134 potential new jobs in the Southeast region.
TCI Tank Logistics transports bulk liquids for a range of industries that include energy, consumer products and agriculture. Its services include state-of-the-art inventory systems, tank and rail-car heating and transloading.
Construction on the rail line is anticipated to begin in November at TCI Tank Logistics' facility on Francine Road in New Orleans.
To secure the project, the LED offered the company a competitive incentives package that includes a $200,000 reimbursable grant from the Economic Development Award Program for infrastructure needs, subject to approval by the LED Corp.'s board. The company also is expected to participate in the Enterprise Zone program.
“The addition of this new rail line ... underscores the vital role that international trade plays in our regional economy," said Greater New Orleans Inc. President and CEO Michael Hecht.