Pratt breaks ground on paper mill in Kentucky
Pratt Industries, headquartered in Atlanta, has broken ground on a $500 million paper mill and box factory in Henderson, Kentucky.
According to a news release from Kentucky Gov. Andy Beshear’s office, Pratt broke ground on the first of two facilities in mid-December last year that will total 1.15 million square feet along Kentucky Highway 425 in Henderson County.
The development follows a devastating tornado that hit western Kentucky in early December 2021, after which the company pledged $1 million to assist with relief and recovery efforts.
“As work continues to help our western Kentucky communities heal after last week’s unprecedented storm, the arrival of Pratt Industries to this region will be an important part of that recovery process,” Beshear said around the time of the groundbreaking in December. “Not only is this new operation going to create quality job opportunities for hundreds of Kentucky residents, the generosity shown by Pratt leadership during this difficult time also proves the company will be a perfect fit for Henderson and the surrounding area. I want to thank Anthony Pratt and his team for their commitment to the commonwealth.”
The project investment has increased from $400 million to $500 million to support construction of a 500,000-square-foot box factory that will produce corrugated sheet and boxes, including pizza boxes and packaging for distributors and big box stores, with 100-percent-recycled paper sourced from the 650,000-square-foot paper mill. Pratt says it plans to complete construction of the box factory by 2023.
Anthony Pratt, executive chairman of Pratt Industries, says, “Our Henderson paper mill and box factory is the single-biggest investment our company has ever made and will create 1,000 jobs, including American, green-collar manufacturing and construction jobs.”
According to the news release, the Kentucky Economic Development Finance Authority (KEDFA) approved an incentive agreement under the Kentucky Business Investment program. The performance-based agreement can provide tax incentives based on Pratt’s investment and annual job and wage targets. KEDFA also approved Pratt for tax incentives through the Kentucky Enterprise Initiative Act, through which it can recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
Pratt has paper mills in Georgia, Indiana, Louisiana, New York and Ohio.
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