Germany-based Klöckner Pentaplast Expands Louisa County, Virginia, Plant
01/17/2019
The company is a global leader in rigid and flexible packaging, printing, and specialty solutions, serving the pharmaceutical, medical device, food, beverage, and card markets.
“We are pleased with the support from Governor Northam and appreciate the partnership with the Commonwealth and Louisa County,” said Tracey Peacock, President of the Pharma & Medical Device Division at Klöckner Pentaplast. “We are excited with the capacity expansion and technology improvements at our Gordonsville facility to service the North American market while supporting local jobs within our community. Our technology provides safety and protection for pharmaceuticals and medical devices, essential for the well-being and health of everyone.”
As an incentive, Virginia Economic Development Partnership worked with Louisa County to secure the project for Virginia. Governor Northam approved a $300,000 performance-based grant from the Virginia Investment Performance (VIP) program, an incentive that encourages capital investment by existing Virginia companies. Klöckner Pentaplast is also eligible to receive Sales and Use tax exemptions on manufacturing equipment.
“Plastics manufacturing companies represent one of Louisa County’s strongest industry sectors, and we are delighted that Klöckner Pentaplast has chosen to expand their manufacturing operation in Louisa County,” said Chairman of the Louisa County Board of Supervisors Toni Williams. “Since locating in Louisa County in 1979, Klöckner has been an engaging community partner, and the Louisa County Board of Supervisors is proud to support their expansion efforts.”
“For 40 years Klöckner Pentaplast has played a significant role in the success of the Commonwealth’s advanced materials industry, which employs over 22,000 Virginians,” said Secretary of Commerce and Trade Brian Ball. “The company’s $25 million investment is a strong testament to Central Virginia’s strategic location and business-friendly environment, which continues to attract leading advanced manufacturers from around the world. We thank Klöckner Pentaplast for its contribution to Virginia’s economic growth and look forward to the creation of 34 new jobs in Louisa County.”
“Klöckner Pentaplast is a valued major employer with more than 700 employees and a long history of reinvesting in Louisa County,” said Governor Ralph Northam. “For over four decades, Klöckner Pentaplast has demonstrated a commitment to creating new jobs and opportunities for Virginians, and this significant investment further solidifies the company’s longevity in the Commonwealth.”
Project Announcements
Walmart Plans Upgrades Cullman, Alabama, Regional Distribution Hub
06/08/2023
Silver Branch Brewing Establishes Fauquier County, Virginia, Operations
06/08/2023
Protego (USA) Expands North Charleston, South Carolina, Operations
06/08/2023
South Korea-Based INFAC North America Expands Campbellsville, Kentucky, Operations
06/08/2023
Applied Physics Technologies Expands McMinnville, Oregon, Operations
06/02/2023
Bosch Expands Lincolnton, North Carolina, Operations
06/02/2023
Most Read
-
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
Q1 2023
-
Is a Flurry of Fads Shaping Economic Development Policy?
Q2 2023
-
EV and Semiconductor Projects Stand Out in States Receiving Area Development’s 18th Annual Shovel Awards
Q2 2023
-
Life Science Conversions in Real Estate
Q2 2023
-
Front Line: Water Supply Increasingly Affecting Location Decisions
Q2 2023
-
Nearshoring — North America’s Next Factory
Q2 2023
-
First Person: Labor Crunch in the Construction Industry
Q2 2023