This article was published from: https://www.news-journal.com/news/local/indevco-adding-jobs-m-investment-with-ledco-grant/article_87b320d6-522c-11e9-952b-bf2b406fceaf.html
Good times continue to roll for job growth in Longview, though some companies report difficulty filling certain jobs.
INDEVCO Plastics Inc. is expanding again. It will add $9.5 million in capital investment and 18 new jobs over the next three years at its plant on Jordan Valley Road, according to the Longview Economic Development Corp.
ePac expects to open the new sites in: Cleveland; Minneapolis; Longview, Texas; Philadelphia; New York; Louisville, Ky., and Richmond, Va.
LEDCO awarded INDEVCO Plastics a $400,000 performance grant Friday to aid in the expansion plan.
“INDEVCO definitely made the right decision in opening a manufacturing facility in Longview,” said Wayne Mashe, general manager of INDEVCO Plastics.
Meanwhile, other Longview companies with prior performance agreements with LEDCO are exceeding their initial goals, President/CEO Wayne Mansfield said.
Meanwhile, other Longview companies with prior performance agreements with LEDCO are exceeding their initial goals, President/CEO Wayne Mansfield said.
INDEVCO deal
Under the performance grant approved Friday, Indevco must reach 59 jobs and invest $4.5 million before Dec. 31 to receive a $150,000 check from LEDCO. INDEVCO would receive $125,000 payments during each of the next two years if it reaches 65 workers and invests $3 million by Dec. 31, 2020, and then reaches 70 workers and invests another $2.5 million by Dec. 31, 2021.
The company has 90 days to accept the offer, or it will be rescinded, LEDCO board chairman Conner Cupit said. LEDCO also will recommend that the Longview City Council grant the company a 100 percent abatement from municipal property taxes over a 10-year period.
INDEVCO Plastics is part of the multinational INDEVCO Group, based in Lebanon. Member companies of INDEVCO Group sell a broad array of packaging to petrochemical companies in more than 40 countries.
“The company utilizes a seamless supply chain to produce and deliver form-fill-seal, heavy-duty sacks, PE (polyethylene) roll stock, stretch hood film and shrink collation to a range of industries,” according to a written statement.
The company launched its Longview manufacturing facility in 2015 under a past LEDCO incentive deal that required INDEVCO to create 18 jobs and invest $13.2 million into the facility within four years, but it reached those goals in half the time, Mansfield said in 2017.
“Our current site, located with the help of LEDCO, provided us a perfect fit for our operations,” Mashe said. “Additionally, we have continued to invest and grow with the help of LEDCO and the exceptional workforce in the East Texas area. We are excited about the growth opportunities and will begin to add additional jobs within the next few months.
About INDEVCO Plastics
INDEVCO Plastics, Inc., a member of the multinational INDEVCO Group, leverages on over 60 years of expertise in industrial manufacturing and flexible packaging solutions. From its plastic film extrusion plant in Texas, established in 2015, INDEVCO Plastics Longview LLC utilizes a seamless supply chain to produce and deliver form-fill-seal (FFS) heavy-duty sacks, PE roll stock, stretch hood film, and shrink collation to a range of industries.
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