Canada-Based NOVA Chemicals Plans Connersville, Indiana, Operations
The new facility will be operated by Novolex Holdings LLC, a leading developer of packaging products for foodservice and industrial markets, and will process post-consumer plastic films to produce SYNDIGO recycled polyethylene (rPE) at commercial scale. Operations are scheduled to begin by 2025.
“NOVA Chemicals continues to show clear leadership in reshaping plastics for a better, more sustainable world,” said NOVA Chemicals President and CEO Roger Kearns. “We are committed to helping our customers achieve their recycled content goals through a variety of business models and we look forward to making more announcements like this as we work to enable a low-carbon, zero plastic waste future.”
Based on the company’s job creation plans, the Indiana Economic Development Corporation (IEDC) committed an investment in NOVA Circular Solutions and Novolex of up to $1.4 million in the form of incentive-based tax credits and up to $100,000 in training grants. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired and investments are made. The city of Connersville offered additional incentives, and Duke Energy approved incentives to offset a portion of the energy costs.
“Indiana is laser-focused on building a high-tech, sustainable economy of the future, and this new mechanical recycling facility is a perfect fit for powering our circular economy,” noted Indiana Secretary of Commerce Brad Chambers. “NOVA Chemicals’ and Novolex’s new operation in Connersville is a significant development for the community and the west central Indiana region, and we look forward to the impact it will have on Hoosier jobs and prosperity for years to come.”
NOVA Chemicals, which is headquartered in Calgary, Alberta, Canada, employs nearly 2,500 associates worldwide and is wholly owned by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates. The company’s investment in Connersville will expand its recently announced NOVA Circular Solutions line of business, which is home to the SYNDIGOTM brand and is focused on lower-emission, recycled solutions that will help reshape a better, more sustainable world.
2023 Top States for Doing Business Meet the Needs of Site Selectors
2022 Top States for Doing Business Provide an Environment for Business Growth
Why the Southeast Is Winning EV Projects, With More on the Way
EV Impacts to Watch in 2023 and 2024
2023 Auto/Aero Site Guide
Power-Intensive Site Selection
EV and Semiconductor Projects Stand Out in States Receiving Area Development’s 18th Annual Shovel Awards
2023 Top States Workforce Development Programs