Ascension Parish has been chosen as the site for an Avalon Rare Metals Inc. plant that will refine elements used in televisions and hybrid vehicles, if the company decides to build the $300 million facility.
The Louisiana Department of Economic Development announced Monday that Avalon chose the Geismar site for its possible refinery, with a final decision planned for 2013.
If built, LED says the plan would create 175 new jobs.
NPR's business news starts with an eye on oil prices.
Isaac is not expected to grow beyond a Category 1 hurricane and that is easing some concerns it could damage oil and gas refineries along the Gulf Coast. Still, several have shut down operations and will probably be offline for a couple days. Depending on Isaac's severity, analysts say gas prices could go up by about 10 cents or so in the coming weeks. Transcript provided by NPR, Copyright National Public Radio.
Jason Nicosia founded Connect for a Cause, which allows you to make a networking connection with someone you would like to meet by winning an auction to have lunch with them. Your winning bid goes to a charity.
Michael Angle is the founder of Giftmeo, which brings people together online to chip in and give a gift to a friend or loved one.
The opening of Baton Rouge's new $368 million casino has been delayed because of Tropical Storm Isaac.
L'Auberge Baton Rouge was scheduled to open Wednesday, but Pinnacle Entertainment Inc. announced Monday that it was postponing the grand opening. No rescheduled date was immediately announced.
Pinnacle says the storm has scrapped plans to do a mock cruise and diverted Louisiana State Police employees needed for the final inspection and for issuance of the final regulatory approval to open the casino.
Unemployment rates fell from June to July in 62 of Louisiana's 64 parishes, according to figures released Friday.
Lafourche Parish has the lowest jobless rate at 5.2 percent. East Carroll Parish's 20 percent rate is the highest. Only Concordia and Franklin parishes saw increases.
The oil-fueled Houma metro area, with 5.4 percent unemployment, is lowest among Louisiana's eight urban areas. Joblessness in metro New Orleans fell to 8.1 percent from 8.7 percent in June. In metro Baton Rouge, it fell to 8 percent from 8.7 percent.
Small businesses in 11 Louisiana parishes are now eligible for low-interest federal disaster loans from the U.S. Small Business Administration.
Alfred E. Judd, director of the SBA's Disaster Field Operations Center-West, said in a news release Tuesday that the loans can offset economic losses caused by the drought that began June 19.
The eligible parishes are Morehouse, Richland, Union, West Carroll, Caldwell, Claiborne, East Carroll, Franklin, Lincoln, Madison and Ouachita. Three neighboring counties in Arkansas — Ashley, Chicot and Union — also are eligible.
Originally published on Wed August 15, 2012 6:32 am
RENEE MONTAGNE, HOST:
NPR's business news starts with the top man at The Times.
(SOUNDBITE OF MUSIC)
MONTAGNE: The New York Times has named its new president and CEO. The man who got the job is Mark Thompson, a former BBC executive. Thompson will face a different business model from the non-profit British broadcaster. The paper is run by a board that's largely elected by a family trust.