Pratt Industries has unveiled plans to set up a new paper packaging and shipping materials manufacturing facility in the Botetourt County Shell Building in Virginia, US.
The new facility, which will be established with an investment of $20m, will be Pratt’s second manufacturing operation in Virginia.
The factory will enable the company to boost the market share of its paper-based packaging and shipping materials in Virginia and the neighbouring states.
Virginia Governor Ralph Northam said: “Pratt Industries’ decision to locate a new manufacturing operation at the Botetourt Center at Greenfield is an important win for the Roanoke region and the Commonwealth, and underscores the advantage of having infrastructure in place that accelerates the timeline to production.
“This major investment that will have a strong positive impact on the regional economy and help advance Virginia’s thriving manufacturing industry.”
The new facility is expected to create nearly 50 jobs. The state and county will provide Pratt Industries with more than $600,000 in performance-based incentives for the facility.
A $300,000 Commonwealth Opportunity Fund grant will be given to Pratt once it creates 50 jobs and a minimum investment of $20.1m.
The company will have to obtain a certificate of occupancy for the shell building with construction of an additional 60,000ft² area. The total size of the building will be around 160,000ft².
Botetourt County will provide a second $300,000 economic development grant.
Secretary of Commerce and Trade Brian Ball said: “Pratt Industries is at the forefront of sustainable and recyclable packaging, and has led the way in the creation of green-collar jobs with over 8,000 employees worldwide.
“Advanced manufacturers of this calibre are a welcome addition to Virginia’s corporate roster, and we are confident that Pratt will be a strong addition to the Roanoke region’s booming manufacturing industry cluster.”