Polyram Group, a global producer of raw materials for the plastics industry, has selected Evansville, IN as the site of its first U.S. production facility with plans to create more than 50 new jobs by 2022.
The Israel-based manufacturer will lease, renovate and equip a 100,000-square-foot facility in the Vanderburgh Industrial Park. Polyram will update the facility to meet its industrial service requirements and install equipment to produce plastic additives and adhesives for the compounding and food packaging industries. Operations at the facility are expected to begin in early 2018.
“We are excited and are looking forward to joining the Indiana community known all over the world for its manufacturing tradition and culture,” said Sharon Segev, chief operating officer at Polyram. “The Evansville area is internationally known for its deep plastic industry roots. Its ideal logistical location and availability of a highly-skilled workforce with all the skill sets required for plastic manufacturing were key factors contributing to our decision.”
Polyram is a global plastics supplier with two production facilities in Israel and one production site in China, in addition to warehouse and sales operations in Ohio, Spain, France, the United Kingdom, China, Germany, Italy and Russia. Polyram’s new Indiana facility will serve the company’s customers locally and around the world.
“In today’s global economy, there’s a clear reason why more than 800 foreign-owned business facilities are located throughout the state,” said Jim Schellinger, Indiana Secretary of Commerce. “International manufacturers like Polyram are coming to Indiana because we’ve built a business climate that’s affordable and a workforce that’s highly skilled in producing goods that are shipped globally. We’re excited to welcome another Israeli company to Indiana as our relationships with entrepreneurs and business leaders around the world continue to grow.”
The Indiana Economic Development Corporation (IEDC) offered Polyram Plastic Industries Ltd. up to $275,000 in conditional tax credits and up to $50,000 in training grants based on the company’s job creation plans. The incentives are performance based, so until employees are hired, the company is not eligible to claim incentives. In addition, the IEDC will provide Vanderburgh County with up to $50,000 in infrastructure assistance from the state’s Industrial Development Grant Fund. Vanderburgh County approved additional incentives at the request of Growth Alliance for Greater Evansville.
“Vanderburgh County is very happy to welcome Polyram to our community,” said Bruce Ungethiem, president of the Vanderburgh County Commissioners. “We congratulate Polyram on the completion of their site selection and are pleased that they have chosen Vanderburgh County as the site for their first U.S.-based production facility. I would also like to thank the many local organizations who contributed to this effort to bring Polyram to our community.”
Trade between Israel and Indiana has experienced strong growth in recent years. Export of Indiana-built goods to Israel has increased more than 160 percent in the last decade, reaching $99.09 million just last year.
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