NEW ALBANY, Ind. (Inside INdiana Business) — Nebraska-based MP Global Products LLC is planning to set up operations in Floyd County. The company, which manufactures recycled cardboard insulation packaging products, is looking to invest $4.4 million in an existing building in the New Albany Industrial Park and create more than 50 jobs.
The facility would be MP Global Products’ third in the country and first outside of Nebraska.
The manufacturer is seeking a property tax abatement from the New Albany City Council that it says will save $113,000 over a five-year period. The council is set to vote the incentives next week. One Southern Indiana, the economic development organization and chamber of commerce for Clark and Floyd counties, says the project is contingent on the council’s approval.
“MP Global Products, LLC, would be a great addition to the regional business community, bringing more than 50 new jobs to the region. This would result not only in increased commerce in our business community, but it also has a direct effect on the lives of the individuals who choose to work there,” said 1si President and Chief Executive Officer Wendy Dant Chesser. “One Southern Indiana is looking forward to the possibility of a new location for MP Global Products, LLC, and continues to be happy to assist company leaders in achieving their immediate and future goals.”
The Indiana Economic Development Corp. has also offered MP Global Products up to $500,000 in conditional tax credits, which the company will not be eligible to claim until Hoosier workers are hired for the new jobs.
If the company moves forward with the project, the facility is expected to open by the fourth quarter.