updated: 8/10/2006 9:28:11 AM

Petoskey Plastics Will Open Facility in Hartford City

InsideINdianaBusiness.com Report

Petoskey Plastics has announced it will open a new manufacturing facility in Hartford City and create about 50 new jobs.

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The plastic bag manufacturing and recycling company has plans for a new 200,000 sq. ft. facility. Indiana successfully beat out Michigan and Tennessee for the investment.

Source: Inside INdiana Business

Press Release

HARTFORD CITY, Ind. (August 09, 2006)—Governor Mitch Daniels today joined executives from Petoskey Plastics, a plastic bag manufacturing and recycling company, to announce Petoskey’s decision to open a new 200,000 sq. ft. manufacturing facility and create approximately 50 new jobs in Hartford City.

“Hartford City, Madison, Greensburg – Indiana’s small towns are playing a vital role in our economic hot streak, and that’s on purpose. We strongly encourage potential investors to look first at our smaller communities and the great workers available there,” said Governor Daniels.

The Indiana Economic Development Corporation, along with the Blackford County Economic Development Corporation and Hartford City, worked with Petoskey Plastics to bring the company’s newest recycling facility to Indiana. The state was competing with both Michigan and Tennessee for this investment.

Petoskey Plastics designs and manufactures a variety of custom industrial and retail high-density polyethylene film products using recycled materials to customers in the United States, Canada, Europe and Asia.

“The Hartford City, Indiana location will be instrumental in growing our business. We chose Indiana because the state is strategically located for distribution activities and provides ready access to a quality workforce—both of which are important for our strategic growth,” said Petoskey Plastics President Paul Keiswetter.

Petoskey Plastics, founded in 1969 with five employees manufacturing plastic bags, has grown from $74,000 to $60 million in sales employing 265. The privately held company has manufacturing facilities in Petoskey, Michigan and Morristown, Tennessee with sales offices in Birmingham, Michigan and Shanghai, China.

The Indiana Economic Development Corporation and Hartford City provided incentives to assist with the expansion project. The IEDC offered incentives including up to $30,000 in training grants, up to $100,000 in infrastructure assistance to the local community and approximately $120,000 in tax credits based on job creation and capital investment. Hartford City will provide the company with a ten-year tax abatement on both real and personal property and up to $565,000 for off-site infrastructure improvements.

“This expansion is a great growth opportunity for East Central Indiana and an indication of the quality workforce in Hartford City and Blackford County,” said Hartford City Mayor Dennis Whitesell. “Petoskey Plastics is a quality company the will make a great partner in building the future for Hartford City.”

Purdue University’s Technical Assistance Program (TAP) is assisting Petoskey Plastics with the layout of their new facility. TAP connects Indiana companies with Purdue resources and helps them to implement state-of-the-art technologies.

Petoskey Plastics manufactures a broad range of products ranging from automotive supplies including Slip-N-Grip® disposable seat covers, paper floor mats and steering wheel covers to consumer products including Can Sacks®, compactor bags, carryout bags, reclosable deli bags and private-label trash bags sold through Dollar General and Meijer stores.

Indiana’s economic hot streak continues. Since January, the IEDC has landed 117 competitive deals and has secured commitments for more than 15,200 new jobs and $3.8 billion in private capital investments.

-American General Financial Services announced plans to invest $35 million in downtown Evansville that will create 150 new jobs.
-Nestle will invest $359 million at a new facility in Anderson creating 300 new jobs.
-Honda selected Indiana for its newest North American automotive assembly plant creating 2,000 new jobs.
-Rolls-Royce in Indianapolis chose Indiana for a new major expansion creating 600 new jobs.
-American Commercial Lines will expand its corporate headquarters and Jeffboat division in Jeffersonville creating 1,100 new jobs.
-Pfizer chose its Terre Haute facility to produce its newly-patented form of inhaled insulin creating 450 new jobs.
-Sysco will build a new distribution facility in Hamlet creating 550 new jobs.
-Shoe Carnival is growing in Evansville creating 280 new jobs.
-Toyota will build its Camry model in Lafayette creating 1,000 new jobs.

About IEDC
As a result of legislation passed by the Indiana General Assembly in 2005, the Indiana Economic Development Corporation has replaced the Department of Commerce as the premier entity charged with state economic development. The IEDC has a 12-member board chaired by Governor Mitch Daniels. Indiana Secretary of Commerce Michael S. Maurer is also president of the IEDC. For more information about IEDC, visit www.iedc.IN.gov.

Source: Indiana Economic Development Corporation

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