International Paper Mulls New Equipment Investment in Fort Wayne
Sept. 8, 2006 (Press Release) - The Fort Wayne-Allen County Economic Development Alliance yesterday said that International Paper is exploring the purchase and installation of new manufacturing equipment at the company’s container manufacturing facility at 3904 Ferguson Road [Fort Wayne, Indiana].
The $385,000 proposal is for equipment used in the production of corrugated containers for the food and beverage, consumer products and industrial projects markets.
“Our intention is to invest in the Fort Wayne facility to enable it to meet the demands of a very competitive marketplace, grow the existing business, and retain our employees,” said plant general manager Ross Carolus. After a recent round of hiring, the plant currently employs more than 110 people.
“The City of Fort Wayne is proud to host this International Paper facility and we will continue to do the things necessary to make our community a competitive place to retain and grow operations such as this one,” said Fort Wayne Mayor Graham Richard.
At its September 12 meeting, the Fort Wayne Common Council will begin considering a five-year tax abatement on the proposed investment.
If investment plans are approved, the equipment could be operational as early as the end of the year.
SOURCE: Fort Wayne-Allen County Economic Development Alliance