Atlanta, Georgia based Pratt Industries is planning to invest $97.6 million in a corrugated packaging operation in Bondurant, Iowa – its first in the state.
The Iowa Economic Development Authority (IEDA) has approved $1.8 million in tax credits for the project through the state’s Business Incentives for Growth program.
According to the IEDA, the planned facility will produce corrugated packaging and other corrugated products. More than $80 million of the total investment is expected to go toward manufacturing equipment.
The project is expected to create 105 jobs, including 20 positions tied to a qualifying wage of $35.11 per hour under the state incentive program. The IEDA also said the investment is expected to increase Pratt’s use of Iowa suppliers.
The project is being developed by Pratt (4.0 Corrugating), LLC, a subsidiary of Pratt Corrugated Holdings. The IEDA describes the Bondurant operation as Pratt’s first manufacturing facility in Iowa. No construction schedule or expected start-up date was provided in the state’s announcement.
The investment would further expand Pratt’s U.S. corrugated packaging footprint. In June, the company announced a major expansion of its Rockwall, Texas, corrugating facility, adding approximately 346,000 square feet and targeting 100 new jobs.
