Green Bay Packaging will receive $60 million in tax credits over 12 years from the Wisconsin Economic Development Corp. to support the company’s plan to build a new $500 million paper mill in Green Bay.
“When deciding the location for our new mill, despite the greater economic and logistical challenges, we felt it was important to maintain our commitment to Northeast Wisconsin,” Bryan Hollenbach, executive vice president of Green Bay Packaging, said in a statement. “With this investment from WEDC, we are one step closer to making our new Green Bay mill a reality and cementing our presence in the area for the next generation.”
The actual amount of state income tax credits the company receives is contingent upon the number of jobs created and retained, and the amount of capital investment the company makes through 2029. As is the case for all WEDC tax credit awards, Green Bay Packaging must first create the jobs and make the capital investments before receiving any credits.
In addition to the 200 jobs expected to be created by Green Bay Packaging, an economic modeling study estimates the project could indirectly generate 135 additional jobs in the region.
“This project will provide an economic boost to Green Bay, the region and the entire state,” WEDC President and CEO Mark R. Hogan said in a statement. “WEDC is proud to support this company’s investment in Wisconsin and the many family-supporting jobs it will bring with it.”
Green Bay Packaging Inc. is a family-owned, vertically integrated company consisting of corrugated container plants, folding cartons, recycled and virgin linerboard mills, pressure-sensitive label rollstock, specialty converting operations, timberlands and a sawmill facility.
Based in Green Bay, the privately held company has manufacturing facilities in 14 states, including 12 facilities in Wisconsin. The company employs nearly 3,600 employees nationwide, with more than 1,500 of those in Wisconsin, including 1,100 in Brown County.