RICHMOND, IND. (April 9, 1:50 p.m. ET) — Wayne County in Indiana is providing tax grants to two plastics companies to help them buy machinery and upgrade.
Silgan White Cap, a unit of Silgan Holdings Inc. of Stamford, Conn., will receive a $29,000 Economic Development Income Tax Grant from Wayne County's Economic Development Corp. Silgan will buy new equipment that will reduce the amount of materials it uses to make plastic and metal caps for the food and beverage industry in its Richmond, Ind., facility.
The credit also includes funding for training employees on the new equipment. The Richmond plant is one of Silgan White Cap's eight production locations in the United States.
Transilwrap Co. Inc. will receive an EDIT grant of $27,000 to assist with the purchase of new equipment to boost the technological and competitive advantage of the producer of laminates and extrusion coatings. The project will create eight new jobs in Transilwrap's Richmond, Ind., plant by the end of 2014. Transilwrap of Franklin Park, Ill., has nine other locations in the United States and Canada. The Richmond operation is its largest.
“It's important that our existing businesses are able to increase their productivity and efficiency to remain competitive and keep jobs in our community,” stated Richmond Mayor Sally Hutton in an April 2 news release.
In the past three years, Wayne County's Economic Development Corp. has assisted 24 businesses through its EDIT fund and retained or created 500 jobs. The programs have created $82 million in new private investment in the county.