New Chase facility could bring up to 200 jobs, $50k average salaries to Ruston
RUSTON, La. (KNOE) - The Lincoln Parish Police Jury and Lincoln Parish School Board unanimously approved the construction of a new 50k sq. ft. facility for JP Morgan Chase Bank, which will operate similarly to the location in Monroe as the central home loan hub plus supporting other companies.
The LPPJ approved the facility early in the morning of Sept. 28, and the school board voted shortly after 11 a.m. on the same day. The new facility is projected to provide up to 200 jobs with average salaries of $50k per year over a 15-year period.
“Ruston proudly celebrates JPMorgan Chase & Co’s substantial $30 million investment, accompanied by the creation of new jobs,” said City of Ruston Mayor Ronny Walker. “This collaboration stands as a true testament to the extraordinary potential that the City of Ruston holds. A partnership like this goes to show the confidence in Ruston’s readiness for a future that will contain opportunities for everyone.”
The North Louisiana Economic Partnership (NLEP) said Ruston is a great location for the new facility for several reasons such as the proximity to the corporate Monroe location while still being able to operate services on a separate electrical grid.
Part of the deal made between the City of Ruston and JPMorgan Chase includes tax incentives such as property and sales tax abatements. According to NLEP, “A payment in Lieu of Taxes agreement will be awarded contingent on the company’s creation of up to 200 full-time positions in Lincoln Parish over a course of time.”
Construction of the new facility is expected to begin within the next six months north of I-20 in Ruston and job hiring is expected to begin in late 2024.
Copyright 2023 KNOE. All rights reserved.