Mid South Extrusion Invests $4 Million To Increase Production Capacity In Monroe, Louisiana
The new manufacturing line will allow the company to boost capacity in pounds produced per year by up to 16 percent. Mid South manufactures and produces both low- and high-density polyethylene barrier films, as well as linear low-density polyethylene. The barrier film is used in a variety of end-use products, including retail packaging, lamination substrates, and poultry and food-grade applications. Mid South also produces film for in-process use, such as for construction and pipe wrapping applications. In addition, the company produces packaging film used in bedding, furniture, carpets, medical, textile and canning applications.
“We are very excited about this investment opportunity and the features this new production line will offer MSE and our customers,” Mid South Extrusion President Ron Mason said. “In addition to a large increase in production capacity, it will allow MSE to compete in new markets – and offer new products – that until now we were unable to participate in. MSE appreciates Governor Jindal and Secretary Moret for their efforts in partnering with our company on this investment opportunity. Large investment decisions are difficult for most companies and can often be complicated by federal and state regulatory issues, but considering the business-friendly climate our state offers, I am proud we can call Louisiana our home.”
Gov. Bobby Jindal said, “Today’s announcement is a perfect example of how companies are reinvesting in their Louisiana facilities because we have provided one of the most competitive business climates in the world. Every new investment from companies like Mid South Extrusion is a vote of confidence in our world-class infrastructure and talented workforce. This new production line will increase Mid South’s productivity and allow the company to better meet the demand for state-of-the-art plastic film produced right here in Louisiana.”
To secure the expansion, LED offered a customized incentive package that includes a $200,000 Modernization Tax Credit incentive. Additionally, the company is expected to utilize the state’s Enterprise Zone and Industrial Tax Exemption programs. Construction and installation of the new line is expected to begin in May 2014, with a target completion date of August 2014.
“Mid South Extrusion has been a growing and stable company for many years, and this expansion validates it as a important part of our economy in Monroe,” said President and CEO Tana Trichel of the Northeast Louisiana Economic Alliance. “Mid South’s products are well-received and have a growing market, and we’re excited to have them here in Monroe.”
“We are extremely proud of the news that Mid South Extrusion is making a multimillion-dollar capital investment to expand its operations within the city of Monroe,” said Monroe Mayor Jamie Mayo. “This business lies right in the heart of our Southside Economic Development District. The new direct and indirect jobs will allow dozens of good, hard-working citizens to obtain gainful employment while helping to bolster our local economy. We thank all the state and local officials who helped facilitate key incentives that helped secure this project.”
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