One of Cincinnati's largest private companies kicked off construction on its new $8 million innovation center this week.
On Thursday, Springdale-based ProAmpac broke ground on its 25,000-square-foot Collaboration & Innovation Center just outside of Rochester, N.Y. The facility represents an $8 million investment and will create 40 new jobs when it opens in the spring, officials said.
"Innovation is the key factor in making flexible packaging the fastest growing segment of the expanding global packaging industry, which is forecast to exceed $1 trillion by the end of next year," ProAmpac CEO Greg Tucker said in a statement.
ProAmpac received a capital grant of up to $1.35 million and a $1 million tax credit over 10 years from state officials to support the project, the release states.
The new center will serve as ProAmpac's global hub for accelerating innovation and product development of flexible packaging. It also will become a one-stop shopping center for both sustainable materials and creative flexible-packaging structures.
ProAmpac creates flexible packaging for the food, pet food, medical, security, industrial and retail markets. It’s No. 7 among Greater Cincinnati’s largest private companies, with $1.4 billion in 2019 revenue. The five-year-old manufacturer also ranks as the second-largest North American packaging company based on flexible packaging revenue.
