Eastman Chemical Co. officials 性视界传媒渞emain confident in the value性视界传媒 of a project to build a plastics recycling facility near Longview despite losing a $375 million grant to help build it.
The U.S. Department of Energy on Friday canceled funding that the company planned to use to help build a nearly $1.2 billion plastics recycling facility. The news came weeks after Eastman officials said they were optimistic the company would receive the funding, which was placed under review this spring as part of the Trump administration性视界传媒檚 spending cuts.
The loss of the grant funding doesn't mean the project will be canceled. The project was planned before government funding was available to the company, said Kristin Parker, a senior communications representative at Eastman. The federal funding allowed the company to expand the scope of the project to increase de-carbonization efforts and "offset significant capital inflation."聽
Without affirmatively saying the project will proceed, Parker said: "If we cannot get the grant reinstated, we will evaluate potential changes to the project scope and timeline."
性视界传媒淲e strongly believe in the role this project plays in meeting the need for a circular economy and keeping plastic waste out of the environment," Parker said. "We also continue to believe that it fully aligns with the [Trump] Administration性视界传媒檚 goals of creating jobs, driving energy independence, and strengthening U.S. manufacturing.性视界传媒
Andrew Coggins, Eastman性视界传媒檚 Texas site leader, said in a statement: 性视界传媒淲e are thankful for our community and the ongoing support community leaders have provided throughout the effort to bring this important project to a reality. We remain confident in the value of this technology and this innovative project in Texas. I hope we will continue to receive the same positive community support and collaboration that helped make our site the choice for this very important investment by Eastman.性视界传媒
Officials announced in spring 2024 that Eastman would receive the federal grant to build a molecular recycling facility, which would melt down discarded plastic for reuse. Company officials said the plant would use an innovative approach to recycling plastic waste, and it marks the single-largest economic investment in Longview-area history.
The $375 million grant was among 24 grants totaling $3.7 billion that the Department of Energy is canceling, U.S. Secretary of Energy Chris Wright announced Friday. Almost 70% of the grants were approved by the Biden administration between the November presidential election and President Donald Trump性视界传媒檚 inauguration, though Eastman性视界传媒檚 grant was awarded in early 2024.
The molecular recycling plant is expected to create roughly 1,000 temporary jobs during construction and roughly 200 permanent jobs. Local entities awarded tax incentives to the company to build the plant.
