Plastics recycler also approved for financial assistance.
Petoskey Plastics, a plastics recycling and bag and resin manufacturer headquartered in Petoskey, Mich., has announced plans to expand its Hartford City, Ind., operations. The company cites the growth of its recycling services and product line as the reason for expanding its Indiana facility.
To assist in the expansion, the Hartford City Council has approved the plastics recycler for a 10-year, $6.2 million tax abatement package.
Petoskey's investment will be used to upgrade and enhance recycling operations and increase the capacity of the facility. Additionally, Petoskey says it will refurbish the rail spur that serves the facility, allowing for more efficient and sustainable transport of raw materials to the plant.
This is the second expansion to the company's Hartford City plant. The first, completed in 2013, cost $9.7 million and added 80 jobs.
"As consumers and businesses focus more on recycling and green products, we are gearing up to meet the growing demand,” says Paul Keiswetter, Petoskey president and CEO. "We have a great team here, and we're pleased to expand our partnership with the city of Hartford City in helping to boost the local economy."
Petoskey purchased the 300,000-square-foot Hartford City facility in 2007 and began recycling operations there in 2008. In 2013, the company recycled more than 26 million pounds of postconsumer plastic, converting the material into GreenPE resin and using the resin to produce plastic film and bag products, some of which contain up to 70 percent recycled plastic.
"It's been very exciting and satisfying to witness the growth at Petoskey Plastics," says Hartford City Mayor Ben Hodgin. "While most businesses and the general economy are growing at a modest pace, Petoskey's Hartford City plant has exploded over the last two years. This is great for Petoskey Plastics and it is great for Hartford City and Blackford County."