This week, Tak Investments Inc. announced it will invest $60 million and create 85 new jobs to establish a recycled tissue plant for its subsidiary, ST Tissue, in Isle of Wight County.
A win-win for the company and county, this project will repurpose a vacant portion of the International Paper mill in Franklin, Va., making use of machinery already in place.
This news comes within a month of International Paper’s announcement that it recommenced operations at its formerly-closed Franklin Mill. After closing the mill in 2009, International Paper upfit a portion of the mill to manufacture fluff pulp, bringing more than 200 new jobs to the region.
Location and existing infrastructure were key factors in Virginia’s favor, allowing the Commonwealth to successfully compete against Wisconsin. The Franklin Mill location allows the company to take advantage of an existing facility with paper-making machinery and a trained workforce already in place.
In addition, the location not only aligns with the company’s supply chain, but Virginia’s strategic East Coast location and premier transportation infrastructure will allow the company to capture additional market share.
This project builds on the success Isle of Wight County has experienced on its way towards economic recovery. Recent announcements from Green Mountain Coffee Roasters and International Paper are expected to bring more than 1,000 jobs to the area.
To learn why leading manufacturers continue to select the Commonwealth, investing more than $13.8 billion from 2002 to 2010, click here.