North Louisiana Captures $50 Million Investment in Growing Data Center Sector as Fibrebond Expands Webster Parish Facility

FOR IMMEDIATE RELEASE

Thursday, April 18, 2024

[MINDEN, La.] – Industrial manufacturer Fibrebond Corporation announced a $50 million expansion and enhancement of its production facility in Webster Parish, which supports data center, telecommunications, industrial and utility projects across the United States.

The expansion will enable Fibrebond to retain more than 450 existing jobs in the Northwest Region. Louisiana Economic Development estimates the project will also result in nearly 650 indirectly supported jobs in the state, for a total of approximately 1,100 retained and indirectly supported jobs.

“On behalf of the State of Louisiana I want to thank Fibrebond Corporation for investing more than $100 million in Webster Parish over the past three years, providing quality jobs for the Northwest Region’s skilled workforce,” said LED Secretary Susan B. Bourgeois. “This project is especially exciting because it capitalizes on Louisiana’s existing manufacturing strength to create new opportunities in emerging markets such as data center and telecommunications infrastructure. That is a winning formula for Louisiana.”

Fibrebond, a family-owned company, is the largest employer in Webster Parish. Its new 297,000 square foot production facility will accommodate the wiring and installation of electrical gear in the concrete and steel modular buildings Fibrebond produces – the most time-consuming and value-added element of production. The company expects the new facility, new equipment and other improvements to increase the location’s total production capacity by more than 50 percent.

“The pace of our growth has increased since we began expanding our Minden campus in May 2022, driven broadly by the digitization and electrification trends,” said Fibrebond President and CEO Graham Walker. “The expansion in Louisiana makes the most sense for our business. We have added 180 direct and 100 subcontractor jobs in the past 15 months, and all of those people are building for projects across the country. Our ability to automate and scale with quality is only possible because of the employees we have in north Louisiana.”

This latest expansion will bring Fibrebond’s total manufacturing and warehouse space to more than 1 million square feet on its 254-acre campus. Construction will begin in June 2024 and commercial operations are scheduled for September 2025.

“The expansion of Fibrebond’s facility is a testament to their enduring partnership with Minden,” said Mayor Nick Cox. “For over four decades, Fibrebond has been a cornerstone of our economy, and this significant additional investment highlights their role as a pivotal force in our city’s economic growth and showcases our community’s potential as a leader in the manufacturing sector.”

To win the project, Louisiana Economic Development offered a competitive incentive package featuring a performance-based Retention and Modernization Tax Credit valued at nearly $1.7 million over five years, contingent on investment, job retention and payroll targets being met.

“Fibrebond’s continued investment into Northwest Louisiana and Minden is certainly a sign of the company’s ability to succeed in this region. We celebrate the continued success of companies like Fibrebond, knowing that their achievements contribute significantly to the overall vitality of this region,” says Justyn Dixon, President and CEO of the North Louisiana Economic Partnership (NLEP).

About Fibrebond Corporation

Fibrebond manufactures complex electrical and mechanical solutions for the data center, industrial, utility and fiber markets. For 42 years, the company has been family-owned and based in Minden, Louisiana. For more information or employment opportunities, visit fibrebond.com.

About North Louisiana Economic Partnership

North Louisiana Economic Partnership, an Accredited Economic Development Organization, provides professional economic development services to an 11-parish region of North Louisiana, including lead generation and prospect management. Its mission is to be a catalyst and connector advancing economic growth in the region. Visit nlep.org for more information.

Media Contact:

Lanier Thibodeaux, Director of Marketing & Communication

North Louisiana Economic Partnership

lthibodeaux@nlep.org

318.677.2514

Sarah McKinney, Director of Marketing

Fibrebond

sarah.mckinney@fibrebond.com

318.286.4252

Ed Walsh, Senior Account Manager

Romph Pou Agency

ewalsh@rpagency.com

318.465.0138