RESERVE — As the Port of South Louisiana (PortSL) and HOST move forward with the sale of Avondale Global Gateway and their joint efforts to further develop the property, PortSL and HOST are releasing their vision for future growth.
“We have a transformational opportunity to attract new industries and investment to the West Bank. Under our ownership and with HOST’s continued management of the marine facilities at Avondale Global Gateway, I am confident in our ability to deliver new economic prosperity to Avondale and create thousands of jobs,” said PortSL CEO Paul Matthews. “As we continue to develop Avondale Global Gateway as a manufacturing and logistics hub, we see more opportunity for growth across the West Bank. This is only the beginning.”
PortSL and HOST envision their combined expertise will provide the necessary synergy to build on the success Avondale Global Gateway has already seen and supercharge its growth.
“In just a few short years after being transformed from a shipyard to a multimodal terminal, Avondale Global Gateway has returned to profitability and is poised to reach new heights of success through our partnership with PortSL,” said HOST Chairman and CEO Adam Anderson. “Together, we will draw on our areas of expertise to bring on more tenants in our target industries, increase shipping capabilities, and create thousands of new jobs on the West Bank.”
HOST has secured Gulf Wind Technology, a renewable energy developer, TOP Vegetable Oils, a sustainable food processor, and Sesco Cement, a construction materials producer. These tenants exemplify what HOST has believed from the start and proved in just five years: Avondale Global Gateway is well-situated to host tenants across several industries and it has only brushed the surface of its potential.
With PortSL’s ownership, Avondale Global Gateway will become an even more desirable and competitive location to do business by opening the door for private developers to seek federal grant funding to onshore their supply chains. Recent federal legislation has made billions of dollars available for American business development and increased the demand for sites like Avondale Global Gateway that simplify supply chains.
Further, with nearly 7,000 acres of undeveloped land surrounding AGG, there is room to develop the West Bank to create an ecosystem of manufacturers connected to AGG to deliver their products to the world.
This epic transformation will make the West Bank a center of global commerce. With AGG fully developed, the region stands to gain 2,000 on site jobs, 3,000+ additional jobs across the state, $36 billion in total economic output, and a $6.1 billion increase in Louisiana payrolls. This is according to an economic impact report by Stephen R. Barnes, Ph.D. Read more about PortSL and HOST’s vision in this presentation.
About the Port of South Louisiana
Founded in 1960, the Port of South Louisiana [PortSL] is a 54-mile port district on the Mississippi River between New Orleans and Baton Rouge, encompassing the parishes of St. Charles, St. John the Baptist, and St. James. The Port of South Louisiana is the largest port in Louisiana and #2 in the Western Hemisphere. It ranks as the #1 U.S. grain exporter and #2 U.S. energy transfer port. Port SL is home to seven grain transfer facilities, four major oil refineries, 11 petrochemical manufacturing facilities and several other facilities, including the Executive Regional Airport.