LyondellBasell Expansion Project Brings Thousands of Workers

CORPUS CHRISTI, Texas. – May 25, 2016 – The final phase of the 800 million pound-per-year ethylene expansion project currently underway at the LyondellBasell (NYSE: LYB) Corpus Christi site is adding 2,500 contractor positions and generating a substantial positive economic impact for the Coastal Bend. Planning for the major expansion project began in 2013 and the final construction phase is taking place over the next few months. 

“This project reinforces LyondellBasell’s commitment to growth in the Coastal Bend,” said Corpus Christi Site Manager Randal Tatum. “We are investing in our facility, but our community will also see a financial boost because many of these additional workers have been and will continue to spend their money at local businesses throughout the area.” 

The Corpus Christi site, which typically has 300 employees and contractors on site, spends almost $43 million annually with local vendors.  According to the Corpus Christi Regional Economic Development Corporation, local taxable spending by workers descending upon the community for this expansion will result in an additional $40 million into the local economy in a variety of areas, from hotel rooms to restaurants and other businesses. Local and state taxing districts are also expected to receive more than $10 million annually from the venture, totaling more than $100 million over a 10 year period following completion. 

“Projects such as this are an important facet of our economy. The decline in oil prices has not affected our area to the large extent that it did in the 80’s because investment in local manufacturing facilities has provided other sources of jobs and revenue for our communities,” said President and Chief Executive Officer of the Corpus Christi Regional Economic Development Corporation Iain Vasey. “We thank LyondellBasell for their investment in our area.”

“The impact on local businesses from this project has and will continue to provide a significant boost to the entire community,” said Tatum. “This is a win-win for everyone involved.”

The Corpus Christi site will increase its ethylene capacity by 50 percent following the expansion project, which is expected to be completed in late August. The plant produces ethylene and related products which are used to manufacture a wide range of materials for consumer durable products, flexible packaging and automotive applications. 

Media Contact: Scott Buchman O: 713-309-4803 C: 281-660-6856 Scott.Buchman@lyb.com