An industry that innovates oftentimes accelerates change. Aerospace may soar steadily, but can it help get the economy off the ground?
BERRY PLASTICS INVESTS $150 MILLION IN EVANSVILLE FACILITY Berry Plastics Corporation has announced plans to expand its Evansville, IN operations, creating 360 new jobs by 2015. The plastics packaging company, which employs more than 1,200 people in Evansville and more than 13,500 worldwide, will invest $150 million to expand its thermoform operations and build an additional facility to their existing campus. Construction is scheduled to begin next year. Lt. Governor Becky Skillman and Evansville Mayor Jonathan Weinzapfel recently joined executives from Berry Plastics to announce the expansion. “Berry Plastics” continued growth is a great sign that the spirit of enterprise is alive and well in our state,” said Skillman. “We are pleased they have recognized Indiana as the location to grow their global operations.” Berry Plastics’ expansion plans include the addition of a new 375,800-square-foot facility to increase the capacity of drink cup manufacturing. The company also produces containers, bottles, closures, prescription vials, trash bags, duct tape and other packaging materials. “We’re excited to continue our long history of growth in Evansville where we have enjoyed a terrific relationship with our community, government and employees since 1967. We are pleased to build on our outstanding workforce in Evansville which serves as the foundation for Berry to continue to strengthen our position as a leading plastic packaging supplier,” said Bill Norman, executive vice-president of strategic planning at Berry. The Indiana Economic Development Corporation offered Berry Plastics up to $4.9 million in performance-based tax credits and up to $200,000 in training grants based on the company’s job creation plans. The City of Evansville will provide additional tax phase-in at the request of the Economic Development Coalition of Southwest Indiana. “This is such great news for Evansville. In these tough economic times, it’s truly an encouraging sign to see hundreds of new jobs and millions of dollars in new investment coming to our community,” said Weinzapfel. “I would like to once again thank Berry Plastics for its continued partnership with the people of Evansville.” Berry Plastics’ announced expansion in Evansville is the fourth investment in four years from the plastic packaging giant. In 2005, the company expanded its existing facilities and support staff that included a 170,000-square-foot addition and 64 new jobs. In 2007, the company made two separate announcements totaling 300 jobs and more than $63 million in capital investment. Berry Plastics is a leading manufacturer and marketer of plastic packaging products. Berry Plastics is a major producer of a wide range of products, including open top and closed top packaging, polyethylene-based […]
During a credit squeeze, joint ventures can be a viable means of bringing new capital investments to fruition, provided the site-selection process is well managed.
William Sloan is of counsel with the law firm Morrison & Foerster in San Francisco. He sits on the Climate Change Advisory Committee for the California Manufacturers and Technology Association. He formerly held positions in the U.S. Department of Environmental Protection and the Department of Justice BF: Assuming “cap-and-trade” legislation now before Congress becomes law, what will be the primary impact on major industrial concerns? Will this force companies to significantly change the way they evaluate decisions about expansions, relocations or new facilities? WS: If the legislation does reach the finish line, it tells us a lot about the new regulatory regime that will govern major industrial concerns, but it doesn’t quite get us to the “Holy Grail” for business decisions-namely, the price of carbon. For example, a price of $6 per ton, as opposed to $60 per ton, will drastically change how businesses make strategic choices for their operations. Once businesses know what it will cost to emit a ton of carbon, then businesses can meaningfully evaluate the cost of expanding operations or relocating to other countries with a different regulatory landscape. BF: Will businesses be able to adjust quickly to the reality of carbon credits? WS: For businesses that feel behind the curve, perhaps one of the best steps they can take now, for risk assessment purposes, is to comprehensively evaluate their carbon footprint, and be sure to include a supply chain/lifecycle analysis of their business operations. Even if a business itself doesn’t produce significant emissions, it can still be vulnerable to new regulation if its suppliers will be a target of regulation, if its waste disposal costs are already a substantial expense, or if its operations are energy intensive. In the end, it all comes down to who will ultimately be saddled with paying for the cost of the emissions. BF: Do you expect state economic development agencies to broker large-scale agreements among key players regarding carbon-credits, or will each company negotiate on its own behalf? WS: In terms of credits, the primary center of market activity will be on exchanges selling at whatever is the current trading price, so I don’t see large-scale novel agreements proliferating. Depending on how the offset marketplace shapes up, you could see some new alliances and partnerships created for the purpose of developing large offset-generating projects. I have been involved in CDM projects and voluntary-offset projects where a variety of players have all collaborated, bringing their own unique expertise whether it’s finance, real estate, agriculture or energy. These collaborations have included […]
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