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Irish AREZ LLC Selects Crossett, Arkansas, for First U.S. Facility

11/09/2010
AREZ LLC, an Irish company, has selected Crossett, Arkansas, for its first U.S. facility, the Arkansas News reports. The company will invest $6.8 million in a new manufacturing plant and create 121 jobs.

"With options throughout the country, AREZ chose to locate its first U.S. facility in Arkansas, and they will be pleased with the talent and work ethic they find here," said Governor Mike Beebe at a news conference.

Crossett will receive nearly $1.5 million in Community Development Block Grants to build a rail spur and provide equipment for the project. AREZ will receive a 3 percent income tax credit on payroll for new employees over the next five years and $4.75 million in bond guarantees from the Arkansas Economic Development Commission and the Arkansas Development Finance Authority.

The company produces rosin-based resins for the printing ink industry. Its new facility will measure 270,000 square feet and produce 25 million pounds of resin each year at full capacity.

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