Bioplastics Company Details Indiana InvestmentPosted: Updated:
An Oregon-based bioplastics manufacturer is moving forward with expansion plans in Indiana. Trellis Earth Products Inc., which acquired Cereplast Inc. in Seymour for $2.6 million earlier this year, is planning to pump more than $2.4 million into new equipment and add up to 60 jobs in Jackson County by the end of the year. July 29, 2014
SEYMOUR, Ind. - Trellis Earth Products, Inc ., a leading maker of bioplastic food service disposables, will soon begin operations at Seymour's East Side Industrial Park, and employment is expected to reach over 60 by the end of the year.
Trellis Earth, based in Wilsonville, Ore., acquired the assets of Cereplast including production equipment, patents, inventory and trademarks as part of Chapter 7 liquidation proceedings, and plan to move into the building formerly occupied by Cereplast.
"We have long wanted to mark our products as 'Made in the U.S.A.'," said Mike Senzaki, Trellis Earth CEO. "The acquisition of this factory will enable to us to quickly become the pre-eminent American supplier of bioplastic food service disposables."
Trellis Earth is a 7-year old company with over 500 customers in the food service industry including Kroger, Trader Joe's, and Wegmans. Key products provided include bio-based cutlery, food containers, and shopping bags.
"Trellis Earth will find an ideal environment in Indiana for bringing manufacturing home to the United States," said Victor Smith, Indiana Secretary of Commerce. "There's a reason why Indiana leads the nation in manufacturing job growth. Indiana provides growing companies like Trellis Earth with an affordable business climate, a central Midwest location and a skilled team of Hoosiers ready to prove why Indiana is a state that works."
On Monday, July 28, Seymour City Council approved transfer of tax abatement previously awarded to Cereplast, and granted additional abatement for new investment of $2,407,000 in equipment. Council also approved an ECLIPSE (Economic Loan Incentive Program of Seymour) loan that was recommended by the Seymour Redevelopment Commission.
The Indiana Economic Development Corporation also has offered Trellis Earth Products, Inc. up to $1,100,000 in conditional tax credits and up to $50,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.
Trellis Earth is a privately held company targeting $8.5 million in revenue for 2015, with the 105,000 square foot facility at the East Side Park having existing annual bioplastic manufacturing capacity to produce materials worth over $50 million.
About Jackson County Industrial Development Corporation
Jackson County Industrial Development Corporation (JCIDC) was formed as a public/private partnership charged with raising the local standard of living and improving the area tax base by attracting quality employers and assisting with the expansion and competitiveness of local industries.
Since its inception in July, 1984, JCIDC has worked to serve the industrial base in Seymour-Jackson County and investors in the organization to encourage business growth through attraction and retention, and promotes a business friendly environment. Plus, the JCIDC Workforce Partnership teams with local education providers to improve the workforce.
More information is available at www.jcidc.com
Source: The Jackson County Industrial Development Corp.