Graphic Packaging will spend $41.5m on upgrading its production machinery at West Monroe paper mill, Louisiana, US.
The investment includes an expansion of the mill's fiber storage capacity and will upgrade the dryer section, coater and stock cleaning areas of the plant, which shares a campus with the company's carton manufacturing facility.
The West Monroe paper mill produces paperboard for beverage and other consumer-based packaging at two other company sites in West Monroe. Graphic Packaging will retain 1,340 employees at the three Louisiana sites with the modernization project.
“I am delighted Graphic Packaging International and Louisiana Economic Development (LED) have partnered to bring about this investment in our West Monroe Mill operations,” said Tony Hobson, VP/resident manager, Graphic Packaging International.
Growing the business
“We weighed many factors in our decision to further invest in the West Monroe Mill. The state’s pro-business environment and the exceptional workforce made a significant impact.
"The partnership between Graphic Packaging International and Louisiana is an enduring example of how to attract, retain and grow business.”
To secure the project, LED offered Graphic Packaging International a competitive incentive package that includes a $720,000 Modernization Tax Credit, to be claimed over five years. Graphic Packaging is also expected to utilize the state’s Industrial Tax Exemption Program.