VALPARAISO – A paper and packaging company will invest $260 million to build a recycling facility expected to create up to 137 new jobs by 2018.
Pratt Paper/Pratt Industries will put the facility next to its existing box-making plant in Valparaiso. The recycling site will occupy a 250,000 square-foot building that will include a wastewater pre-treatment facility and road improvements. Once up and running, the mill will produce 360,000 tons of recycled paper per year.
Pratt currently employs more than 320 people in Valparaiso and more than 4,000 across North America. The company will begin hiring paper machine operators, waste yard personnel, shift supervisors and maintenance associates late next year.
Pratt was founded in 1987 and is the world’s largest privately held company to produce all of its paper and packaging from 100-percent recycled products. The 1.15 million tons of recycled paper is used to make packaging for the industrial, food and beverage, electronics, pharmaceuticals and telecommunications sectors.
The Indiana Economic Development Corporation offered the company up to $1.2 million in conditional tax credits and $200,000 in training grants. The Northwest Indiana Regional Development Authority will support the project through its Deal Closing Fund. NIPSCO has also offered the company $15 million in additional energy and infrastructure incentives. The city of Valparaiso will consider additional tax abatements.