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Area Development - Site Selection, Facility Planning and Workforce Development

Matrix Pack North America Plans Boone County, Kentucky, Operations

07/28/2023
Matrix Pack North America, a producer of sustainable and environmentally conscious paper products, plans to establish operations in Boone County, Kentucky. The $47.9 million project is expected to create 144 jobs.

The company will construct a new 100,000-square-foot facility to expand the production of paper straws, lids, cutlery and to-go containers. Construction is scheduled to begin in October and be completed by June 2024.

“Our family and business have been an integral part of the Boone County community for over 60 years. We are excited about the opportunity to bring this growth to Boone County,” said Matrix Pack North America President Stuart Seltman. “Further, we are so grateful and appreciative of the support we have received from Boone County, the Commonwealth of Kentucky and all of the elected officials, including those working behind the scenes, to bring this to fruition.”

To encourage the investment and job growth, the Kentucky Economic Development Finance Authority (KEDFA) today preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1 million in tax incentives based on the company’s investment of $47.9 million and annual targets of: Creation and maintenance of 144 Kentucky-resident, full-time jobs across 10 years; and paying an average hourly wage of $23.86 including benefits across those jobs.

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.

“I want to thank the leaders at Matrix Pack North America for this commitment to the commonwealth and the Boone County community,” noted Governor Andy Beshear. “Kentucky’s sustainability effort continues to grow, and it is great to see Matrix Pack North America be a part of that momentum. I want to congratulate them on this new partnership, and I look forward to seeing their success in the commonwealth.”

In addition, Matrix Pack North America can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentive.

“Through our target industry study by EY, we know that materials and packaging companies have a strong presence and opportunities to be successful in Northern Kentucky,” added BE NKY Growth Partnership CEO Lee Crume. “Matrix Pack North America is an ideal fit for our region, and we appreciate the founders’ new investment in Boone County.”

Matrix Pack North America is a green paper products manufacturer and the number one producer of paper drinking straws in Europe.

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