NEW IBERIA, La. (AP) — Bruce Foods Corp., a specialty food manufacturer, will expand its New Iberia plant and boost its payroll under a state economic incentive deal announced Tuesday.
State officials said privately held Bruce Foods will retain 380 jobs and create 43 new jobs, with a total payroll of $1.35 million, by 2014 under a $5 million expansion plan.
The 82-year old company, based in New Iberia, employs about 1,200 nationwide. It is known for such products as its hot sauce, Cajun Injector seasonings, Bruce's Yams and Casa Fiesta Mexican food.
After expanding, the plant will manufacture new products from such root vegetables as sweet potatoes, carrots and squash, the company said.
Gov. Bobby Jindal said the deal represented "another example of a homegrown business finding success here at home."
In 2009, Bruce Foods CEO Si Brown complained publicly and to the Legislature about another Jindal administration economic development project — $37 million in state help to build a ConAgra Foods Lamb Weston Inc. plant near Delhi. That plant is expected to employ at least 500 workers within five years.
ConAgra said Tuesday that it expects the plant to open in November.
Brown said he had been working for an incentive package and that ConAgra would compete with his established business. At the time, state economic development officials said that the Delhi plant would have been located in another state and would have still competed with Bruce Foods — minus the state getting the jobs.
Louisiana Economic Development head Stephen Moret also said at the time that the state intended to reach an incentive-based expansion deal with Bruce Foods.
"As Louisiana moves forward, it has to have a strong business-friendly component in order to create new jobs," Brown said Tuesday. "We are fortunate to have a governor with an administration that understands how important this is and is actively embracing public-private cooperation in order to create this positive environment."
Bruce Foods is getting a $1 million forgivable loan, but the company will have to reach the promised hiring standards. The company also is getting another $1.5 million loan — also based on meeting expansion goals — from the state.
The company also will be eligible for industrial tax exemptions and to participate in a jobs program which provides a rebate of annual gross payroll for new jobs over 10 years.
