Companies invested nearly $21 billion in capital investments during 2022, marking five consecutive years of growth and two straight years with more than $20 billion, according to Louisiana Economic Development’s annual report.

The $20.7 billion in capital investments have generated more than 18,000 direct, indirect and retained jobs over the course of the year, according to LED. In 2021, Louisiana totaled around $2.5 billion in capital investments, and the state has had more than $10 billion in investments for each of the last three years.

“Economic growth requires us to fix our gaze forward, not back. But the view from 2022 is clear: Louisiana’s economic foundation is strong, and the future is bright and sustainable,” Gov. John Bel Edwards said in a release. “We begin 2023 poised for additional expansion and innovation, positioning our state for long-term success in a rapidly changing global economy at the same time that more Louisiana residents are entering the workforce than ever before.”

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The state saw companies create more than 9,000 new direct and indirect jobs in 2022 and retain an additional 9,100 through 53 state-supported economic development projects. Twelve of the projects included investments of more than $100 million, and four were “mega-projects” with more than $1 billion of investment.

Clean Hydrogen Works, a Texas-based energy solutions company, had the largest investment, proposing a $7.5-billion hydrogen-ammonia production and export facility in Ascension Parish. Another company, the Illinois-based CF Industries, put up $2 billion for an ammonia plant with carbon capture in Ascension Parish.

Venture Global LNG, a liquified natural gas company based in Virginia, committed to increasing the capital investment on a previously announced project. Initially, the company said it would spend around $8.5 million on a Plaquemines Parish LNG facility before increasing the capital investment to $13.2 billion – an additional investment of $4.7 billion.

The other mega-project was Port NOLA’s $1.8-million Louisiana International Terminal project in St. Bernard Parish. Across all four projects, the state is expected to see at least 703 new direct jobs, around 2,200 indirect jobs and 521 retained jobs.

“As important as the list of accomplishments for 2022 is the groundwork that has been laid for future growth,” LED Secretary Don Pierson said in a release. “The team at LED, with the support of Gov. Edwards and the Legislature, is empowering small business prosperity, supporting research and technology, leaning into the global energy transition, reinvesting in critical infrastructure, and recruiting, training and sustaining Louisiana’s most valuable resource – a skilled and versatile workforce. Working closely with our regional partners, we are riding the momentum of 2022 into 2023 in our never-ending pursuit of prosperity for our state and its people.”

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The annual report also included highlights for the state’s seven major regions. In Northwest Louisiana, successes included the Teal Jones Group breaking ground on a $100-million sawmill modernization project in Plain Dealing, as well as a $45-million expansion project for Alliance Compressors in Natchitoches Parish. The $19.8-million Center for Molecular Imaging and Therapy facility also opened in Shreveport in 2022.

Northeast Louisiana saw a new Entergy call center create 170 new direct jobs. Mid South Extrusion expanded its production lines in Ouachita Parish, investing $4.9 million to retain 170 jobs. LED also awarded $1.8 million to support the construction of a new Biomedical Research and Innovation Park at the University of Louisiana at Monroe.

In Central Louisiana, Cleco announced a $900-million carbon capture project to reduce emissions at its Brane power generation facility. In Vidalia, Syrah Technologies invested $176 million in a facility that produces materials for electric vehicle batteries. The area also saw Great Southern Wood Preserving announce two expansions at its Avoyelles Parish facility, totaling $28.4 million.

Southwest Louisiana saw Venture Global’s Calcasieu Pass LNG facility begin operations, as well as the reopening of the $250-million re-built BioLab chemical plant in Lake Charles. In DeRidder, Canfor broke ground on a new $160-million sawmill facility.

In the Acadiana region, Schlumberger consolidated its North Gulf Coast operations in Lafayette at a new $11.5-million hub, creating 113 new direct and indirect jobs. Supreme Rice announced a $16.2-million investment to create parboil facilities in Acadia Parish. The University of Louisiana at Lafayette also received an LED Entertainment Development Fund award to create a visual effects program.

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In addition to the CF Industries and Clean Hydrogen Works projects, the Baton Rouge area saw chemical company BASF begin the $780-million final phase of its $1-billion expansion project at its Geismar facility. The project is expected to create 184 direct and indirect jobs and retain more than 1,000. Arbor Gas also announced an $800-million renewable fuels facility in Port Allen that would create 142 direct and indirect jobs.

In the Houma-Thibodaux area, John Deere expanded its manufacturing facility as part of a $29.8-million project to shift production of its cotton harvesters from China to Thibodaux. The Birla Carbon facility in St. Mary Parish is also getting a $15.9-million expansion, while Nicholls State University partnered with the U.S. Bureau of Ocean Energy Management to develop a Gulf Coast research database.

In addition to the Louisiana International Terminal project, Southeast Louisiana saw the clean hydrogen project H2theFuture receive a $50-million award from the U.S. Economic Development Administration’s Build Back Better Challenge. General Dynamics Information Technology also opened an office in the area to support its $136-million contract with the U.S. Navy.

Here’s a list of the 20 largest investments the state saw in 2022:

• Clean Hydrogen Works - $7.5 billion

• Venture Global LNG - $4.7 billion (an increase from previously announced investment)

• CF Industries (ammonia complex) - $2 billion

• Port NOLA/Louisiana International Terminal - $1.8 billion

• Cleco - $900 million

• Arbor Gas - $800 million

• BASF - $780 million

• Origin Materials - $750 million

• CF Industries (carbon capture) - $198.5 million

• Syrah Technologies - $176 million

• American Electric Power - $100 million

• Guidry Catfish - $69.6 million

• Shintech Louisiana - $65 million

• Alliance Compressors - $45 million

• Calucem - $35 million

• Cargill - $34 million

• Linde - $32.7 million

• Shell Chemical LP - $30.5 million

• Shintech Louisiana - $30 million

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This article originally appeared on Lafayette Daily Advertiser: Companies invested $21 billion in projects for Louisiana during 2022