Oct 10, 2024
Laborde Products will add 25,000 square feet of a new operations center and warehouse to its Covington headquarters at 74257 Highway 25. The $5.85 million investment, announced by the marine engine and distribution company, will expand research and development efforts as the company aims to broaden its range of innovative products built in St. Tammany Parish. Construction is expected to begin in the coming months and be completed by the end of next year with operations starting in early 2026. “This expansion in Covington is about more than just adding space – it’s about creating new opportunities for our team, our community and the industries we serve,” said Laborde Products President and CEO Brian Laborde. “With this new facility, we’re positioning ourselves to lead in innovation and growth. This expansion is a strategic move to strengthen our influence and drive the future of the industry we support.” Through the investment, Laborde Products anticipates five direct new jobs with an average annual salary of $65,000, while retaining 40 current positions. Louisiana Economic Development estimates the project will result in eight indirect new jobs, for a total of 13 potential new jobs in the Southeast Region. The project will support 90 construction jobs at peak construction. LED offered Laborde Products a competitive incentives package that includes a $200,000 reimbursable grant from the Economic Development Award Program for infrastructure and equipment, subject to approval by the Louisiana Economic Development Corporation board. The company is also expected to participate in the state’s Quality Jobs program. “Laborde Products’ investment in research and development exemplifies the commitment of homegrown Louisiana companies to driving their industries, and the sectors they support, forward,” said LED Secretary Susan B. Bourgeois. “We thank Laborde Products for continuing to invest in Louisiana innovation and excellence.” Founded in 1998 as a small engine distributor, Laborde Products now supplies and services equipment from industry leaders such as Mitsubishi, Scania, and Steyr Motors to inland and offshore customers in the maritime, energy, and defense sectors across the Gulf Coast. “We are proud to support Laborde Products in their latest expansion,” said St. Tammany Corporation CEO Chris Masingill. “Investing in the skills and expertise of our workforce remains key to retaining and attracting companies like Laborde Products. Their decision to once again choose St. Tammany to expand their operations here underscores the importance of cultivating a talented community that can meet the evolving demands of modern industries.”
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