“This $150 million investment by Formosa Plastics will grow good-paying jobs for Texans, expand economic opportunity in Jackson County, and further our state’s manufacturing leadership"
Texas Insider Report: AUSTIN, Texas – Governor Greg Abbott today announced Formosa Plastics Corporation, Texas (Formosa Plastics) in Jackson County as a qualified project under the Texas Jobs, Energy, Technology, and Innovation (JETI) program. Formosa Plastics will open a new facility to produce C6 (1-Hexene), a feedstock organic compound used at their existing complex in Point Comfort in the production of polyethylene, the most common plastic material. The project will create $150 million in capital investment.
“Texas leads the nation in chemical production and exports,” said Governor Abbott. “This $150 million investment by Formosa Plastics will grow good-paying jobs for Texans, expand economic opportunity in Jackson County, and further our state’s manufacturing leadership. With Texas' unmatched business operating advantages and easy access to domestic and global markets, Texas manufacturers offer an efficient, reliable supply chain for critical materials used in the production of everyday products.”
“We appreciate Governor Greg Abbott’s Texas Economic Development & Tourism Office, the Texas Comptroller of Public Accounts Office, and the Palacios Independent School District (ISD) Board for approving our application,” said Formosa Plastics Corporation, Texas Business Development Vice President Jack Wu. “Property tax is an important factor when determining a site location for expansion projects. This type of approval helps move projects forward, which will support long-term economic development in the region and benefit the community.”
“Formosa Plastics’ investment is a testament to Jackson County’s economic potential and its skilled workforce,” said Senator Joan Huffman. “This project is a big win for Jackson County, and I look forward to the positive impact it will have on the local economy.”
“Formosa Plastics has been a key part of our region’s economic growth and success for years,” said Representative AJ Louderback. “This new facility and the jobs it brings will keep the momentum going. I'm excited to see our community continue to grow and am grateful to Governor Abbott for his commitment to helping Texans thrive.”
“Formosa Plastics has long been a valued part of our community,” said Jackson County Judge Jill S. Sklar. “Their continued investment brings new opportunities for our residents, strengthens our local economy, and reaffirms Jackson County as a great place to live and work.”
“Formosa Plastics has been an important part of our community for years,” said Palacios ISD Superintendent Dr. Jared Duncum. “We look forward to a continued relationship with this important industrial partner.”
View more information about Formosa Plastics Corporation, Texas.
