Printpack to invest $25.7 million to expand manufacturing operation
Printpack, one of the largest flexible packaging converters in the United States, will invest $25.7 million to expand its manufacturing operation in the City of Newport News. Virginia successfully competed against Missouri for the project, which will create 50 new jobs.
Speaking about the announcement at an event in Newport News, Governor McAuliffe said, “I am thrilled to announce this significant investment in Newport News that will help create jobs and economic activity in a region that has been hard hit by federal defense cuts. Printpack’s continued success in Hampton Roads is reflective of the outstanding climate Virginia has to offer manufacturing companies. Creating new jobs in the manufacturing sector is a key component in our efforts to diversify and build a new Virginia economy. My proposed budget includes funding to strengthen Virginia’s workforce system and economic development programs to make the Commonwealth even more attractive to companies like this.”
“Printpack’s expansion is another testament to the talented workforce, superior business environment and quality infrastructure in Newport News and Hampton Roads,” said Secretary of Commerce and Trade Maurice Jones. “We thank Printpack for this additional vote of confidence in the Commonwealth of Virginia and look forward to the continued growth of this dynamic manufacturing enterprise.”
Founded in 1956 and headquartered in Atlanta, GA, Printpack is a privately-held manufacturer of flexible and specialty rigid packaging. Employing 4,000+ associates worldwide, the company operates 25 manufacturing facilities in the United States, Mexico and China.
“We are pleased to be expanding our business in Virginia and are very appreciative of the support from the Governor, the Virginia Economic Development Partnership, and the City of Newport News,” said Jim Stevenson, Director of Operations, Printpack. “Printpack pioneered the barrier rigid container business in Virginia in 1984 and we have been growing here ever since. After considering other locations for our expansion, we decided to expand in Virginia largely because our well-established, capable workforce provides us a solid base of expertise to build upon. Additionally, strong relationships with and support from our local governments made expansion in Virginia a solid decision.”
The Virginia Economic Development Partnership worked with the City of Newport News to secure the project for Virginia. Governor McAuliffe approved a $150,000 grant from the Commonwealth’s Opportunity Fund to assist Newport News with the project. The Governor also approved a $200,000 performance-based grant from the Virginia Investment Partnership program, an incentive available to existing Virginia companies. The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
“We are delighted that Printpack has decided to expand its operations in Newport News,” said Mayor McKinley L. Price, DDS. “We can all take pride in knowing that the products made by our highly-skilled workforce have impacted citizens around the globe.”
“We are thrilled to have the opportunity to work with Printpack as they expand in Newport News, and have enjoyed a superb working relationship with their people, both at the local and corporate levels,” said Florence Kingston, City of Newport News Director of Development. “Printpack has seen long standing success in our EDA-owned Oakland Industrial Park, and we are excited by their increased customer demand and the market growth of the rigid plastics industry driving their expansion.”
“A vital part of economic development is working with existing businesses to help them grow and expand,” saidDelegate T. Montgomery (Monty) Mason. “Printpack has been a great corporate citizen in Newport News and we are excited to continue to work with them as they grow. This is an excellent example of state and local efforts coming together to support an important partner and grow the new Virginia economy.”