Israeli Plastics Supplier Picks Vanderburgh County for First U.S. Production Facility
Thursday, July 6, 2017
EVANSVILLE, Ind. (July 5, 2017) – Polyram Group, a global producer of raw materials for the plastics industry, will locate its first U.S. production facility in Evansville, with plans to create more than 50 new jobs by 2022.
“In today’s global economy, there’s a clear reason why more than 800 foreign-owned business facilities are located throughout the state,” said Jim Schellinger, Indiana Secretary of Commerce. “International manufacturers like Polyram are coming to Indiana because we’ve built a business climate that’s affordable and a workforce that’s highly skilled in producing goods that are shipped globally. We’re excited to welcome another Israeli company to Indiana as our relationships with entrepreneurs and business leaders around the world continue to grow.”
The Israel-based manufacturer will lease, renovate and equip a 100,000-square-foot facility in the Vanderburgh Industrial Park. With renovations on the building scheduled to begin this month, the company will update the facility to meet its industrial service requirements and install equipment to produce plastic additives and adhesives for the compounding and food packaging industries. Operations at the facility are expected to begin in early 2018.
Polyram, which currently employs 200 associates globally, plans to hire its Indiana plant manager and human resource manager this summer. Hiring for all other positions, including warehousing, maintenance, shift leader, machine operating, accounting and lab jobs, will follow later this year and early next year.
“We are excited and are looking forward to joining the Indiana community known all over the world for its manufacturing tradition and culture,” said Sharon Segev, chief operating officer at Polyram. “The Evansville area is internationally known for its deep plastic industry roots. Its ideal logistical location and availability of a highly-skilled workforce with all the skill sets required for plastic manufacturing were key factors contributing to our decision.”
Founded in 1986 in Ram-On, Israel, Polyram is a global plastics supplier with two production facilities in Israel and one production site in China, in addition to warehouse and sales operations in Ohio, Spain, France, the United Kingdom, China, Germany, Italy and Russia. Polyram’s new Indiana facility will serve the company’s customers locally and around the world.
The Indiana Economic Development Corporation offered Polyram Plastic Industries Ltd. up to $275,000 in conditional tax credits and up to $50,000 in training grants based on the company’s job creation plans. These incentives are performance based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. In addition, the IEDC will provide Vanderburgh County with up to $50,000 in infrastructure assistance from the state’s Industrial Development Grant Fund. Vanderburgh County approved additional incentives at the request of Growth Alliance for Greater Evansville.
“Vanderburgh County is very happy to welcome Polyram to our community,” said Bruce Ungethiem, president of the Vanderburgh County Commissioners. “We congratulate Polyram on the completion of their site selection and are pleased that they have chosen Vanderburgh County as the site for their first U.S.-based production facility. I would also like to thank the many local organizations who contributed to this effort to bring Polyram to our community.”
Trade between Israel and Indiana has experienced strong growth in recent years. Export of Indiana-built goods to Israel has increased more than 160 percent in the last decade, reaching $99.09 million just last year. Today, more than 70 Hoosier companies do business in Israel, and last year, Israel-based auto supplier Omen Casting Group announced plans to locate its first North American production facility in Richmond, Indiana.
About Polyram Group
Polyram is a leading international supplier of high-performance thermoplastic compounds with three production sites spread over two continents offering global availability. Polyram was established in 1986 and has 200 employees worldwide. The company is controlled by FIMI, Israel’s leading Private Equity Fund. The head office, main plant and R&D center are located in the northern part of Israel in Ram-On. Polyram Operates three production sites: Ram-On & Afula in Israel and Tianjin in China, and has seven subsidiaries in the USA, Spain, France, UK, China, Germany, and Italy.
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 15-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.
Neta Etziony (Polyram) – +972 50 570 2827
Abby Gras (IEDC) – 317.232.8845 or email@example.com