The Glass is Half-full
SHREVEPORT – Glass manufacturer Libbey Inc. will invest $20 million to upgrade its factory with new technology, research and development. In February Libbey cut about 200 jobs at the plant and moved some equipment elsewhere as it discontinued some products. Louisiana offered the company incentives, including a $500,000 tax credit, to encourage the plant modernization. Louisiana Economic Development says the upgrade should produce about 70 jobs and help retain some 500 existing Shreveport jobs. The Toledo, Ohio-based company will install new equipment at the factory over the next two years.