Libbey announced on 17 June that they would be making upgrades, including the renovation of a major glassmaking furnace and the purchase of related equipment at the 525,000-square-foot manufacturing plant located in Shreveport. The move will maintain the plant's 814 jobs, which have an average annual salary of US$ 34,000, plus benefits, and support approximately 1,520 indirect jobs. Louisiana Economic Development (LED) has been working with Libbey, leader of the Western Hemisphere in glass tableware production and the second largest glassware producer in the world, to find opportunities to expand and retain its Shreveport facility. LED offered the company an incentive package that includes the state's Retention and Modernization tax credit programme, which grants qualifying companies a 5% refundable tax credit on capital upgrades to existing facilities. Plant manager Frank Russell said he believes the investment will allow the plant to stay competitive. "It will allow us to continue doing what we do best," he added.
