The Morristown, Tennessee, City Council has approved an agreement with Petoskey Plastics to set up financing vehicles for a $20 million plant expansion.
According to an online article by the Morristown-based Citizen Tribune, the agreement helps establish a financial relationship with the Tennessee Department of Economic and Community Development for a FastTrack grant.
The company, headquartered in Petoskey, Michigan, plans to add about 32,000 square feet of space to its Morristown plant. The facility, currently 87,000 square feet in size, has been operated by Petoskey since 1999. The company produces recycled-content LDPE (low-density polyethylene) and LLDPE (linear low-density polyethylene) plastic bags and films there.
With the expansion, the workforce at the plant could grow from approximately 100 people to 150 employees.