EVANSVILLE, Ind. (Jan. 15, 2013) – Berry Plastics Group, Inc. (NYSE: BERY) announced plans today to expand its operations here, creating up to 115 new jobs by the end of 2013.
The manufacturer and marketer of plastics packaging products will invest approximately $33 million to expand and equip its Evansville production facility. Berry Plastics, which currently employs more than 1,800 associates in Evansville and more than 15,500 worldwide, has already begun hiring additional professional, technical and production positions.
“Though we have new beginnings in leadership, the old efforts of strengthening Indiana’s reputation as a premier location for business are stronger than ever,” said Victor Smith, Indiana Secretary of Commerce. “As we move forward, I am confident that we will remain one of the most sought-after states for business in the nation and continue to deliver on the promise of better serving both the business community and Hoosiers.”
Established in Evansville in 1967, Berry Plastics operates approximately 80 manufacturing facilities worldwide, producing a wide range of engineered materials and plastic packaging products which include bottles, containers, drink cups, grocery film, trash bags and prescription containers. With its headquarters in Evansville, the company serves more than 13,000 customers.
“We are extremely appreciative of the city, county and state officials who worked diligently with us, allowing for growth at our Evansville facilities,” said Jon Rich, chairman and chief executive officer of Berry Plastics. “The capital investment we are announcing is in direct support of our strategic goal of accelerating our innovative product development and the bringing to market of exciting new products that provide solutions for our customers.”
The Indiana Economic Development Corporation offered Berry Plastics Opco, Inc., a subsidiary of Berry Plastics Group, up to $800,000 in conditional tax credits based on the company’s job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The IEDC will also assist the community with improving rail service to the site. The city of Evansville and Vanderburgh County approved additional incentives at the request of the Growth Alliance of Greater Evansville.
“The decision by Berry Plastics to invest in and expand its Evansville operations is proof of the company’s continued commitment to our community,” said Evansville Mayor Lloyd Winnecke. “It took a lot of hard work and diligence by numerous city, county and state agencies to make today’s announcement possible, which goes to show economic development is possible even in a difficult economic environment when parties work together for creative solutions.”
Berry Plastics’ announcement to expand its plastic production operations comes just a month after Ohio Valley Resources announced plans to locate a billion-dollar fertilizer facility in southwest Indiana. The new plant, which will be located in Rockport and create up to 80 new jobs, will be the first entirely new facility of its type to be constructed in America by a U.S.-based firm.
About Berry Plastics
Berry Plastics Group, Inc. is a leading provider of value-added plastic consumer packaging and engineered materials delivering high-quality customized solutions to our customers with annual net sales of $4.8 billion in fiscal 2012. With world headquarters in Evansville, Indiana, the Company’s common stock is listed on the New York Stock Exchange under the ticker symbol BERY. For additional information, visit the Company’s website at www.berryplastics.com.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the chief executive officer of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.
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Eva Schmitz (Berry Plastics) - 812.306.2424 or email@example.com
Katelyn Hancock (IEDC) - 317.234.2294 or firstname.lastname@example.org