“It’s been a long journey since many of you witnessed us break ground November 2009,” Scott Thomas, InterMoor vice president of finance, said Thursday. “Fourteen months of blood, sweat and yeah, a few tears along the way. We finally moved in in January. Today, we’re proud to welcome you to our 24-acre state of the art facility that houses our fabrication, administration, operations and maintenance groups. A special thanks to our employees here that are the best in the business at what they do.”
InterMoor’s newly constructed 24-acre facility in Morgan City contains a fabrication facility utilizing two fabrication buildings, both with engineering capability to design and provide the most comprehensive offshore equipment and mooring systems as well as repair capabilities.
“In the past you guys have done a very superior job of working in facilities that have been far from ideal,” InterMoor President Tom Fulton told local InterMoor workers. “You’re now in a facility in which you can be proud of and a facility that you deserve.”
Morgan City Mayor Tim Matte welcomed InterMoor to the business community now that they are in the city limits.
“InterMoor is proud to be a member of the Morgan City business community, and we appreciate the support we received from the Port (of Morgan City) commission and other state agencies in bringing this great facility into fruition,” Fulton said. “We have been in this community for over 25 years and are happy that our move kept us here. This 24-acre facility is a culmination of a long-term goal of ours, which demonstrates our commitment to growth to our employees, the community of Morgan City, and the oil and gas industry. We’re excited about the opportunities that this facility has already brought and will continue to bring to InterMoor, the Port of Morgan City and the state of Louisiana."
PORT OF MORGAN CITY CREDITS THE H & B YOUNG FOUNDATION AND THE PORT PRIORITY PROGRAM AS MAJOR CONTRIBUTORS TO THE SUCCESS OF THE INTERMOOR PROJECT
President of the Morgan City Harbor and Terminal District Board of Commissioners also addressed those in attendance at the Grand Opening Celebration of the new InterMoor facility. "When approached by InterMoor, we contacted Ms. Brenda Ayo of the H & B Young Foundation. Ms. Ayo immediately began putting a proposal together. Brenda and her board recognized the importance of keeping InterMoor here and made it happen. Let me say right now, if it had not been for the H & B Young Foundation, this project would not have happened. " Mr. Wade also stated, "without the involvement of DOTD and its Port Priority Project Fund along with the Louisiana Department of Economic Development this project would not have become a reality. DOTD and LED put the project on the fast track and provided the all too important funding for the project. The Federal Government also stepped up, and through EDA and DRA provided necessary funding for the bulkhead."
Expansion will retain 250 jobs, while creating 320 new direct jobs and more than 400 indirect jobs
MORGAN CITY, La. - Today, Gov. Bobby Jindal joined Morgan City Mayor Tim Matte and InterMoor President Tom Fulton to announce InterMoor Inc. will expand its operations in Morgan City, La. The $17.2 million capital investment will allow the company to retain 250 jobs and create 320 new jobs in the next five to seven years at an average annual salary of $60,000, plus benefits. Louisiana Economic Development estimates the project will also lead to the creation of approximately 433 indirect jobs, once the project is fully ramped up.
"This announcement shows that Louisiana is strongly committed to helping existing companies grow and ensuring that our people have good paying jobs," said Gov. Jindal. "We are no longer a state that just watches company after company leave like we saw too often in years past. We are committed to growing companies already operating in Louisiana, while continuing to aggressively pursue new business investment to increase the economic momentum of our state."
InterMoor will remain in St. Mary Parish, but will relocate from its current location in Amelia, La., to a 24-acre site owned by the Port of Morgan City. LED estimates the expansion will generate more than $8 million in new, state tax revenues and nearly $7 million in new, local tax revenues in its first five full years of operations.
"InterMoor is looking forward to becoming a member of the Morgan City business community, and we appreciate the continued support from the Port Commission and other state agencies in working to make this new facility a reality," said Fulton. "This new 24-acre facility will be a realization of a long-term goal, which shows our commitment for growth to our employees, the community of Morgan City and the oil and gas industry."
A subsidiary of Acteon, InterMoor Inc. designs, supplies and deploys technically advanced mooring systems and provides rig-move and back-of-the-boat installation services worldwide
(Released by Louisiana Economic Development
Twelve o'clock noon, on Monday, June 15th, 2009, marked a significant moment for the Morgan City Harbor and Terminal District (MCHTD) and the H & B Young Foundation (HBYF). On this day an official signing ceremony was held in the Board Room at the Port of Morgan City (POMC). The HBYF received a check for a 23.394-acre tract of land on the Gulf Intracoastal Waterway from the MCHTD. This $2,350,000 transaction marked the first time the HBYF had ever sold property and the first time the POMC had ever purchased property.
During 2008, the Port commissioners began the process to transition from a custodial port to becoming an active and visible "economic development engine" for the port-wide area. Likewise, the H&B Young Foundation had made a decision to work toward long-term projects that would invigorate the economy. Thus, a perfect partnership culminated!
To fulfill its mission of becoming an "economic development engine" the POMC began its search for development projects that would retain business and the workforce in Morgan City. Members of the Foundation quickly recognized that by selling property to the Port, they would also be fulfilling their mission to invigorate the local economy. By being the owner of the property, the POMC would become eligible for Port Priority Funding to be used for the development of the property.
The H & B Young Foundation, formerly known as the Morgan City Fund, was established in 1955 by Hugh and Byrnes Young. Olympus Young, father of Hugh and Byrnes, arrived from Kentucky in the mid 1850's, first settling in Patterson, and then later moving to Brashear (now known as Morgan City). Olympus obtained 1,000 acres along Bayou Boeuf and established a large plantation.
Hugh worked as a Southern Pacific rail agent for 20 years, while Byrnes' major activity was agriculture. Byrnes also served as Postmaster in Morgan City for many years and became an early officer of the Bank of Morgan City around 1893. Byrnes, a nationally recognized horticulturist, developed the youngberry, which was a cross between the blackberry and dewberry.
If it had not been for the foresight of the Young brothers, Morgan City may never have enjoyed the presence of major oil companies. In the 1940's, when the shrimp industry was declining, the brothers recognized that Morgan City needed a more diversified economy. It was solely through the efforts of these brothers in offering long term bargain leases that four major oil companies came to Morgan City, three of them still maintaining their presence here today.
Because neither of these men had heirs, they chose to leave their holdings, which included several hundred acres of prime waterfront property, to a foundation that would continue to benefit Morgan City and its citizens. The original board was composed of Byrnes Young, Doctor C. R. Brownell, Charles F. Garber, and J. D. Hamilton.
Each year, the Board has the opportunity to give away a minimum of 5% of the foundation's assets. Their generosity has benefited the youth of Morgan City as well as the general population. The Foundation's list of donations is a litany of community accomplishments from medical equipment to school necessities to law enforcement needs to our local technical college. The list goes on and on.
In August of 2007, the foundation was awarded the President's Award from the Louisiana Technical College for their generous donations and support of the Young Memorial Campus. The foundation has provided property and assistance for the relocation and expansion of the school's marine department. This included the construction of a new swimming pool to be used for offshore survival and rescue training. Because of the need for local swim teams to have a place to practice year round, the Foundation and Young Memorial worked out an agreement in order for the teams to use the Young Memorial facility.
The Foundation hopes to see Young Memorial recognized as an official “Marine Training Academy." By the school attaining this designation, the foundation believes opportunities will be provided to the City of Morgan City to entice new families to relocate to the area.
Much credit should be given to board members, serving through the years, for the sound management of the foundation and their wise investments in the community. These individuals have shared the same compassion for providing for the citizens of Morgan City as the Young brothers did many years ago. The current board members of the Young Foundation are Brenda B. Ayo, Emile A. Wagner, III, Gwendolyn E. Ross and Phyllis B. Garber.
While the annual donation of assets from the Young Fund is generally cash distributions, at one time, property was donated to the City of Morgan City in lieu of cash. The property currently being leased by the POMC from the City of Morgan City is an example of that practice.