Larose, Louisiana-based Danos, a strategic services and construction partner for oil and gas companies, announced that it will be investing $10 million to relocate their corporate headquarters to Gray, Louisiana, along with another $20 million for building a new manufacturing facility.
The exact site for the new fabrication and manufacturing unit has not been finalized, and Danos is evaluating several port locations in Louisiana.
As part of the expansion and new corporate headquarters investment, Danos will create 426 new jobs over the next five years.
Out of this, 326 will be corporate positions with average annual wages of $75,000, not including benefits. The rest are manufacturing jobs with average annual wages of $65,000,also not including benefits.
Louisiana Economic Development (LED) estimates that the investment and direct new jobs will create 871 indirect jobs, making for a total of 1,300 new jobs.
By securing the headquarters relocation and manufacturing plant projects, Louisiana has also managed to retain 400 existing Danos jobs, and another 200 construction jobs that are expected to be created. The company will retain a fabrication unit located at the existing headquarters in Larose.
Before they settled down on the Terrebonne Parish site for their headquarters, Danos’ site selection process included many potential sites across the Gulf Coast, including locations in Texas, Mississippi and Alabama.
CEO Hank Danos said their family business had deep roots in South Louisiana, and the culture and heritage of the region was important to who they were as a company.
In order to secure the project, LED’s Business Expansion and Retention Group worked with Danos and has offered the company a $1.5 million grant under the Economic Development Award Program.
The company will also be eligible for workforce training support and tax incentives under the Quality Jobs and Industrial Tax Exemption program.
Vic Lafont, president and CEO of the South Louisiana Economic Council, said that this is the third generation of the Danos family’s continued service to the community. He said the company had survived both manmade and natural disasters, and has continued to prosper and grow.
Steve Vassallo, CEO of the Terrebonne Economic Development Authority, said it was another indication of how dramatically the economy has improved. He added that creating new jobs makes it that much easier to recruit the next company they go after.