Owens Corning of Toledo, Ohio, plans to add a new 150,000-SF facility in Russellville, creating 50 new jobs over two years, the Arkansas Economic Development Commission said Monday.
It marks the building and construction materials company's third Arkansas expansion in two years. In 2021 and 2022, the company announced expansions at its plant in Fort Smith.
New plans announced on Monday would put Owens Corning in Russellville for the first time. The company said it aims to start production there in 2025, making its Foamular NGX brand of extruded polystyrene insulation for commercial and residential buildings.
Megan Selman, president and CEO of Russellville Area Chamber of Commerce and Russellville Regional Economic Development Alliance, said her office worked with Owens Corning for the last year on the project.
“Owens Corning was looking at several locations, but Russellville stood above the rest with our dedicated workforce, competitive business environment, location, and excellent quality of life,” she said in a statement. “This is an exciting day for Russellville.”
In an interview, Selman said Owens Corning will build the new facility on a 60-acre site between Rockline Industries and JW Aluminum Co. in the city’s East End Industrial Park. She said the company’s plan dovetails with the city’s focus on growing its economy.
“Economic growth has been a priority for our region for quite some time,” she said. “And so we're just really excited that we're growing a skilled workforce, we want to grow a competitive business environment, we think we have a fantastic location with our location on I-40. You know, we've got the river, we've got rail, we've got an airport locally, as well.”
According to the AEDC, the project has qualified for two 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.
"The team at AEDC is pleased to once again work with Owens Corning and to welcome the company to Russellville," AEDC Executive Director Clint O'Neal said in a news release. "Russellville continues to make great strides toward becoming an even more attractive community to call home and operate a business, and today we celebrate the results of their efforts."
Owens Corning has maintained a presence in Arkansas since 1984 through its Fort Smith facility. In February 2021, the company said it would build a new 550,000-SF manufacturing facility in Fort Smith to produce fiberglass composite materials. In October, it announced a second expansion there, investing $24.5 million for machinery and new construction that would create 50 jobs.