Premium-quality flexible packaging solutions provider McNeely Plastic Products has revealed plans to expand its plastic product manufacturing facility in Clinton, Mississippi, US.
The company receives $4.5m Federal New Markets Tax Credit (NMTC) allocation and $4.38m in Mississippi State NMTC allocations from UB Community Development (UBCD), a community development partner of United Bank.
In addition, United Bank provided a $17m source loan while PB Community Impact Fund and Cadence Community Capital also provided additional NMTC allocations.
As part of the project, the company will construct a new warehouse, as well as improve, expand and add new equipment to the plant.
The expansion will increase the existing facility by 30,000ft², while also adding another 57,000ft² warehouse and distribution facility.
Over the next four years, the project is expected to generate approximately 50 direct qualified jobs and 84 indirect supplier jobs.
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By GlobalDataOriginally founded as a distributor of plastic packaging products, McNeely Plastic Products specialises in manufacturing a diverse range of films and bags for food and non-food use.
The company serves as a single source supplier to more than 100 companies across multiple markets and industries.
In 1996, McNeely invested in its own manufacturing facilities, and now has one of the most advanced blown film extrusion and bag making machineries across the globe.
The company also enhances commitment to sustainability in their products by reducing production energy, water and air usage.
