By Ray King
An international company with plants all over the world that currently has a plant in Pine Bluff plans to expand, using an incentive package from the Economic Development Corporation of Jefferson County that was approved Tuesday afternoon.
Conditions for receiving the $369,000 incentive package include creating 45 new jobs paying an average wage of $36,000 annually, retaining 42 other jobs with an annual salary of $45.000 and making capital investments totaling $6 million over a five-year period,
Allison Thompson, President and CEO of the Economic Development Alliance for Jefferson County explained what the Economic Development Corporation, commonly called the tax board did.
The company manufactures a variety of packaging inks and operates in 40 countries and earlier this month, the Pine Bluff City Council approved a resolution permitting the company to participate in the state cash-back program on equipment for their facility. The Jefferson County Quorum Court is expected to vote on a similar resolution at a future meeting.
The Economic Development Corporation of Jefferson County is the organization created to administer the three-eights cent sales tax that was approved by Jefferson County voters for economic development. That tax is no longer being collected but the Economic Development Corporation still has more than $11 million available for incentives which can be used to create or retain jobs, or for company expansion.
