BATON ROUGE, La. (KTVE/KARD) — Louisiana Governor John Bel Edwards and Syrah Resources CEO Shaun Verner announced that the company is investing approximately $176 million to expand the company’s graphite processing facility in Vidalia. The expansion will give the state a supply-chain foothold in the rapidly expanding market for electric vehicle components produced in the country.
Syrah Technologies is retaining 19 employees and creating 36 direct new jobs with average annual salaries of $69,000, plus benefits. Louisiana Economic Development estimates the project will result in 52 indirect jobs, for a total of 88 new jobs in Louisiana’s Central Region. The company will add 180,000 square feet of building and processing space to its existing 50,000 square-foot facility.
“Today’s announcement by Syrah Technologies is another example of how Louisiana’s commitment to a cleaner energy future can strengthen our economy,” Gov. John Bel Edwards said. “This is just the beginning of Louisiana’s efforts to help vehicle manufacturers leverage our state’s unique logistical advantages to meet increasing electric car and truck demand. We congratulate Syrah for its commitment to sustainability, and applaud their continued investment in rural Louisiana.”