Film and bag producer Petoskey Plastics Inc. plans to open a plant in Hartford City, Ind., its third.
The Petoskey, Mich., firm is buying a building formerly occupied by Overhead Door Co. and plans to start a bag production and recycling operation by February, according to news releases issued by the company and Indiana Economic Development Corp. The 300,000-square-foot facility will employ more than 40, officials announced Aug. 9.
Petoskey Plastics will invest about $8.8 million in the project, including the building cost and equipment. The facility will include scrap and post-consumer film recycling and will have total capacity of about 20 million pounds per year.
The company's product line includes disposable auto seat covers, steering wheel covers, auto paint-spray sheets, consumer bags for compactors, industrial trash bags, carryout sacks and reclosable delicatessen bags. It produces polyethylene and polypropylene films on 18 lines in Petoskey and Morristown, Tenn., according to Plastics News' film and sheet survey data.
The Petoskey operation includes a post-consumer recycling center for film and bags. The company has sales of about $60 million and employs about 265, according to the news release.
Petoskey also has sales offices in Birmingham, Mich., and a sourcing office in Shanghai.
Indiana Economic Development Corp. is offering incentives of up to $30,000 in training grants, up to $100,000 in infrastructure assistance to the local community and about $120,000 in tax credits based on job creation and investment.
Hartford City will provide a 10-year tax abatement and up to $565,000 for off-site infrastructure improvements. Purdue University's Technical Assistance Program will help Petroskey Plastics lay out the facility.
``We chose Indiana because the state is strategically located for distribution activities and provides ready access to a quality workforce,'' said Petoskey Plastics President Paul Keiswetter in the news release.