EVANSVILLE, Ind.--(BUSINESS WIRE)--Jan. 10, 2014--
Today, Berry Plastics Group, Inc. (NYSE: BERY) announced plans to
further optimize production and relocate manufacturing equipment to four
of its Indiana manufacturing operations. The Company will invest
approximately $31 million for new infrastructure and equipment, and will
also transfer existing equipment from other Berry Plastics facilities.
The project will begin in early 2014 and will result in the addition of
more than 330 production jobs, over the next two years, at the Company’s
downtown Evansville, Evansville airport, Princeton, and Richmond
facilities located within Vanderburgh, Gibson, and Wayne counties in
Indiana.
"The relocation of production equipment to Vanderburgh, Gibson, and
Wayne counties from other Berry facilities supports our restructuring
efforts, announced in November 2013, to optimize our manufacturing
operations, maximize production efficiencies, and best service our
customers,” said Jon Rich, Chairman and CEO of Berry Plastics. “We are
extremely appreciative of Indiana’s city, county, and state officials
and other partners such as GAGE
and Vectren
for their joint support of this initiative.”
To encourage the investment and job creation in Indiana, the Indiana
Economic Development Corporation (IEDC)
offered the Company a grant up to $300,000 to facilitate job skills
training and $2.35 million in Economic Development for Growing Economy
(EDGE) tax credits which may be certified over the next 10 years. In
addition, the City of Evansville offered the Company a 10-year Tax
Phase-In on real property investment, with an estimated value of $1.7
million, and a Modified Schedule of Tax Abatement on personal property
investment, with an estimated value of $2.8 million. The City also
offered a Hiring/Training Grant with a maximum of $100,000.
In early 2014, the Company will begin accepting applications for the
aforementioned production jobs, which will be posted in the Career
section of the Company’s website.
“There’s a reason why manufacturing companies looking for a competitive
advantage continue to choose Indiana,” said Governor Mike Pence. “As a
state that works, Indiana offers a strong legacy in building products
that are used around the world. We provide the knowledgeable workforce
and low-cost business environment companies like Berry Plastics are
seeking when they decide where to locate their next investment, proving
why Indiana is a manufacturing leader.”
“Berry Plastics continues to demonstrate its commitment to our city with
another major expansion that will create 280 new production jobs at its
Evansville facility. The partnership between the city and Berry Plastics
has produced new investments exceeding $64 million and a total of 395
production jobs over the past two years,” said Evansville Mayor Lloyd
Winnecke.
“As Berry Plastics continues to make significant investments in our
community, it’s equally important that we, as their energy provider,
support this economic growth,” said Carl Chapman, Vectren’s president,
chairman and CEO. “We wanted to ensure the current contract design
fostered long-term expansion opportunities, including a competitive rate
structure tied to job growth. We look forward to our continued
partnership with Berry Plastics in the coming years and assurance of
safe, reliable energy service as their expansion efforts become
operational.”
“Economic development incentives and a business-friendly environment are
just as important to helping our existing companies as they are to
attracting new companies. They allowed Berry to choose Evansville for
more investment and for 280 of these jobs, with a forecasted economic
impact of over $1.8 billion per year,” added Deborah Dewey, President of
the Growth Alliance for Greater Evansville.
About Berry Plastics
Berry Plastics Group, Inc. is a leading provider of value-added plastic
consumer packaging and engineered materials delivering high-quality
customized solutions to our customers with annual net sales of $4.6
billion in fiscal 2013. With world headquarters in Evansville, Indiana,
the Company’s common stock is listed on the New York Stock Exchange
under the ticker symbol BERY. For additional information, visit the
Company’s website at www.berryplastics.com.
Source: Berry Plastics Group, Inc.
Berry Plastics Group, Inc.
Media Contact:
Eva Schmitz,
812-306-2424
evaschmitz@berryplastics.com
or
Investor
Contact:
Dustin Stilwell, 812-306-2964
dustinstilwell@berryplastics.com