Plastic Ingenuity Establishes Tooele, Utah, Production Complex
“Plastic Ingenuity has been searching for the right location to accelerate our growth for quite some time, and we believe we have found the ideal match in Tooele, Utah,” said Sakif Ferdous, chief marketing officer of Plastic Ingenuity. “We investigated municipalities in seven different west coast states, and Tooele stood out as having the right combination of access to a well-trained employee base, strong public education system, and a business-friendly environment. We appreciate the help the city of Tooele and the Governor’s office have provided in bringing Plastic Ingenuity to Utah.”
Plastic Ingenuity may earn up to 15% of the new state taxes it will pay over the 15-year life of the agreement in the form of a Utah Legislature-authorized Economic Development Tax Increment Finance (EDTIF) tax credit. The GOED Board has approved a post-performance tax credit not to exceed $1,239,466. Each year that Plastic Ingenuity meets the criteria in its contract with the state, it will earn a portion of the total tax credit.
“This project involved one of the top site selection consulting firms in the country, and their requirements were considerable,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “We can’t say enough about how professional, thorough, and detailed the response of the City of Tooele has been throughout this process, and the Governor stepped in to add his backing for the project. It’s gratifying to welcome a growing, family-owned enterprise that services many of Utah’s strategic sectors.”
The company provides innovative packaging solutions encompassing every stage of packaging design and manufacturing, from initial proposals to the finished product. Plastic Ingenuity focuses on high volume, high-quality, custom projects for the food, healthcare, and consumer goods industries.
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