Methanex Corp., a major producer of the alternative fuel methanol, is moving an idle plant in Chile to Louisiana.
The Vancouver-based company announced Wednesday that it will spend $550 million to build on a 225-acre site in Ascension Parish, about 20 miles from Baton Rouge.
The move will create 130 new jobs for the state. Jobs at the plant will average a more than $56,000 salary plus benefits.
Gov. Bobby Jindal's office says construction is expected to be finished in late 2014. Hiring is set to begin before the end of this year.
The state is giving Methanex $5.3 million to pay for some infrastructure costs and relocation expenses. The company also will get state and local tax breaks.