Tags: louisiana wanhua | chinese | chemical manufacturing | communist

La. Governor Pledges $4.3 Million to Chinese Company With Communist Party Ties

Image: La. Governor Pledges $4.3 Million to Chinese Company With Communist Party Ties
Gov. John Bel Edwards (AP Images)

By    |   Wednesday, 12 Apr 2017 11:17 AM

Louisiana Gov. John Bel Edwards pledged $4.3 million in a grant to Wanhua Chemical, a chemical manufacturing company partly owned by the Chinese government.

Members of the Chinese Communist Party own a percentage of Wanhua, according to The Washington Free Beacon.

The Democratic governor announced that Wanhua would build a $1.1 billion plant in Louisiana. The deal promises 170 jobs, and includes a property tax exemption for 10 years and a cash rebate for the company's payroll under Louisiana's Quality Jobs Rebate program, the Free Beacon reported.

Richard Carbo, a governor's office spokesman, said that the grant has no ties with the Chinese government or the Communist Party. He added that Wanhua Chemical only gets the $4.3 million if it finishes the plant and creates 170 jobs as it promised.

"If they don't meet those obligations, they don't receive the performance-based grants. If they do meet those obligations, the state of Louisiana and its people will be the beneficiaries of billions of dollars of new economic output in our state, as well as the additional infrastructure improvements," Carbo told The Free Beacon.

"Today's announcement of Wanhua Chemical's decision to select Louisiana is a testament to the strength of Louisiana's business climate and unmatched transportation logistics," Edwards said, according to WAFB-TV

The governor credited Louisiana's "highly-skilled workforce, our natural resources, and our world-class infrastructure," for allowing companies such as Wanhua to invest in the state.

The Wanhua plant will produce MDI, or methylene diphenyl diisocyanate, which is used in products that contain polyurethane foam, such as appliances, electronics, furniture, and shoes, WAFB's report said.

Louisiana is the home of another Chinese chemical manufacturing firm: Shandong Yuhuang Chemical Company is working on a $1.85 billion methanol complex 50 miles west of New Orleans, The Free Beacon report said.

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Louisiana Gov. John Bel Edwards pledged $4.3 million in a grant to Wanhua Chemical, a chemical manufacturing company partly owned by the Chinese government.
louisiana wanhua, chinese, chemical manufacturing, communist
298
2017-17-12
Wednesday, 12 Apr 2017 11:17 AM
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