Fayetteville manufacturing company to add 100 jobs
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Packaging Specialties of Fayetteville will invest $24 million to expand local operations and add about 100 jobs over the next five years, officials said Monday.
Why it matters: The creation of manufacturing jobs in the U.S. helps strengthen the middle class and ensure supply chains are free from certain global disruptions.
The big picture: Founded in 1974 and initially focused on making poly films for chicken packaging, the family-owned business is an example of ancillary industries that cluster around NWA's Fortune 500 companies.
- "We love this area — this is where we started," said CEO Nick Guglielmi at an event Monday.
- He said customer demand continues to increase, but the number of new customers for Packaging Specialties also continues to rise, creating the need for expansion.
Context: Packaging Specialties continues to make various films printed with one- to 10-color processes for its customers. Subsidiary Pacmac, which is located on the same Fayetteville campus, fabricates and sells the equipment used to make those films.
By the numbers: The company employs more than 470 people at four facilities. More than 250 of those work at the two locations in Fayetteville.
- The expansion will connect its existing two facilities in south Fayetteville, adding 25,000 square feet for new equipment and a custom press expected to arrive next fall.
What they're saying: "We know that capital goes where capital is welcome, and economic development thrives where companies are welcome," said Clint O'Neal, executive director of the Arkansas Economic Development Commission.
- Mayor Molly Rawn called the investment an anchor for good-paying jobs and innovation in the city's industrial district.
What's next: It will take about a year to complete the construction phase of the project, Guglielmi said.
- Hiring for half of the new positions will begin within about six months, he told Axios.