BOTETOURT Co., Va. (WSET) -- Governor Ralph Northam announced that a recycled paper and packaging company has invested $20 million to establish a new packaging and shipping materials manufacturing operation in the Botetourt County Shell Building.
The shell building sits on 22 acres in Botetourt Center at Greenfield and is 100,000 square feet with room to at least double in size.
The facility will be Pratt Industries, Inc.'s second manufacturing operation in Virginia and will allow the company to increase market share and grow sales of its paper-based packaging and shipping materials within the state and surrounding states.
Virginia successfully competed with multiple states for the project, which will create 50 new jobs.
"Pratt Industries’ decision to locate a new manufacturing operation at the Botetourt Center at Greenfield is an important win for the Roanoke region and the Commonwealth, and underscores the advantage of having infrastructure in place that accelerates the timeline to production," said Governor Northam. "We are proud to partner with an innovative, global manufacturer like Pratt Industries that shares Virginia’s commitment to environmental stewardship and sustainability. This major investment that will have strong positive impact on the regional economy and help advance Virginia’s thriving manufacturing industry."
The company was founded 30 years ago and has grown to become the fifth largest corrugated packaging company in the United States with sophisticated manufacturing facilities in over 27 states.
The company’s more than 8,000 employees service a variety of industries with packaging and recycling needs while maintaining a commitment to the environment and sustainability. Pratt Industries’ products are primarily made from post-consumer recycled materials.
"Pratt Industries is excited to expand in Virginia," said Chief Operating Officer of Pratt Industries David Dennis. "We are grateful to the Roanoke Regional Partnership, Botetourt County, and VEDP for their efforts to bring Pratt to Botetourt County."
The Virginia Economic Development Partnership worked with Botetourt County, the Roanoke Regional Partnership, and the Virginia Department of Environmental Quality (DEQ) to secure the project for Virginia. Governor Northam approved a $300,000 grant from the Commonwealth’s Opportunity Fund to assist Botetourt County with the project. Pratt Industries is eligible for Sales and Use tax exemptions on manufacturing equipment, as well as recycling tax credits for the processing of recyclable materials.