Packaging Specialties Inc. of Fayetteville on Monday announced a $24 million expansion of its manufacturing operations.
The project is expected to create 101 jobs over five years, the Arkansas Economic Development Commission said in a news release.
Packaging Specialties is expanding to meet demand for its printed film products. The company provides printed films to more than 20 food and non-food industries using one-color continuous to 10-color process printing.
As part of the expansion, the company will purchase new equipment for its Fayetteville facility to increase production capacity. The Fayetteville location provides printed packaging films; printed lamination films; C-Folding, raw or printed slitting; and INNO-LOK with multiple pre-applied zippers to customers across the U.S. and internationally.
“To support our customers’ growing demand, entry into new markets, and development of new products, we recognized the need to expand our flexographic printing capabilities,” Nick Guglielmi, CEO of Packaging Specialties Inc., said in the release.
Packaging Specialties was founded in 1974 by Hays Biggs with an initial focus on the U.S. poultry tray pack market. It has grown into a multi-state operation with 473 total employees.
The company currently employs 254 at its Fayetteville location.
The expansion project qualified for the following state incentives: the Tax Back program, which provides sales and use tax refunds on the purchase of building materials and taxable machinery; and five years of the Create Rebate program, an annual cash rebate based on the number of jobs added by a company and targeted wages.
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