Monday, August 06 2018
$60 million in tax credits to help support new paper mill expected to create 200 jobs
Madison, WI -- The Wisconsin Economic Development Corporation (WEDC) announced it is providing Green Bay Packaging with $60 million in tax credits over 12 years to support the company’s plan to build a new paper mill in Green Bay – a project expected to create 200 jobs.
Governor Scott Walker recently joined company officials and community leaders to announce the construction of a new recycled paper mill and an expansion of the Green Bay shipping container division. Green Bay Packaging’s $500 million investment will be one of the largest economic development projects in state history and the largest ever in Brown County.
“This project will provide an economic boost to Green Bay, the region and the entire state,” said Mark R. Hogan, secretary and CEO of WEDC, the state’s lead economic development organization. “WEDC is proud to support this company’s investment in Wisconsin and the many family-supporting jobs it will bring with it.”
“When deciding the location for our new mill, despite the greater economic and logistical challenges, we felt it was important to maintain our commitment to northeast Wisconsin,” said Bryan Hollenbach, executive vice president of Green Bay Packaging. “With this investment from WEDC, we are one step closer to making our new Green Bay mill a reality and cementing our presence in the area for the next generation.”
The actual amount of state income tax credits the company receives is contingent upon the number of jobs created and retained, and the amount of capital investment the company makes through 2029. As is the case for all WEDC tax credit awards, Green Bay Packaging must first create the jobs and make the capital investments before receiving any credits.
In addition to the 200 jobs expected to be created by Green Bay Packaging, an economic modeling study estimates the project could indirectly generate 135 additional jobs in the region.
Started in 1933, Green Bay Packaging Inc. is a family-owned, vertically integrated company consisting of corrugated container plants, folding cartons, recycled and virgin linerboard mills, pressure-sensitive label rollstock, specialty converting operations, timberlands, and a sawmill facility.
Based in Green Bay, the privately held company has manufacturing facilities in 14 states, including 12 facilities in Wisconsin. The company employs nearly 3,600 employees nationwide, with over 1,500 of those in Wisconsin and more than 1,100 in Brown County.