Building and construction materials company Owens Corning Composite Materials LLC of Toledo, Ohio, announced the opening of a new 150,000-SF manufacturing facility in Russellville, expanding its presence in Arkansas.
The project was announced in February 2023 as a $60 million investment, adding capacity to meet growing demand for the company’s Foamular NGX brand of extruded polystyrene insulation for commercial and residential buildings.
The facility was completed in August and aims to be fully operational by the end of 2025. It has created 50 new jobs in the Russellville area, the Arkansas Economic Development Commission said in a news release.
“Owens Corning’s new foam insulation plant is a major milestone for Russellville, bringing high-quality jobs to our area and reinforcing our community as a hub for advanced manufacturing,” Megan Selman, CEO and economic developer of the Russellville Area Chamber of Commerce and the Russellville Regional Alliance for Economic Development, said in the release. “We’re thrilled to celebrate this ribbon cutting, which highlights our strong local economy and readiness for continued growth and opportunity.”
Owens Corning has maintained a presence in Arkansas since 1984 through its Fort Smith facility. In recent years, the company began production at a new 550,000-SF manufacturing facility in Fort Smith to produce fiberglass composite materials. It also invested $24.5 million for machinery and new construction that would create 50 jobs.
The company’s Russellville project qualified for two state incentives: Tax Back, which provides sales and use tax refunds on the purchase of building materials and taxable machinery, and seven years of the Create Rebate program, an annual cash rebate based on the number of jobs added by a company and targeted wages. The project also received $500,000 from the Governor’s Quick Action Closing Fund.
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