Canada-Based Cascades Eyes Manufacturing Facility in Hanover County, Virginia
30 July 2018
Cascades Inc., a Canadian leader in the recovery and manufacturing of green packaging and paper tissue products, plans to invest $275 million to establish a lightweight recycled containerboard operation in the former Bear Island Paper Mill in Hanover County, Virginia. The project is expected to create 140 new jobs.
Mario Plourde, CEO of Cascades, said, “This project is directly in line with the goals of our strategic plan which include, among other things, to invest in our core sectors of packaging and tissue through modernization, and expand our geographical footprint. In addition to the paper machine that is particularly well suited for conversion, the Bear Island site is strategically located for raw materials and logistics. It also offers a platform for future development. We expect Bear Island facility to be a highly competitive asset that will significantly contribute to the success of our containerboard operations.”
The Virginia Economic Development Partnership worked with Hanover County, The Port of Virginia, the Greater Richmond Partnership, and the General Assembly’s Major Employment and Investment (MEI) Project Approval Commission to secure the project for Virginia. Governor Northam approved a $1.95 million grant from the Commonwealth’s Opportunity Fund to assist Hanover County with the project. The company is eligible to receive Sales and Use tax exemptions on manufacturing equipment, and funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
“This investment and the 140 jobs it will create is a major win for Hanover County and the Commonwealth of Virginia,” said Governor Ralph Northam. “International companies continue to choose the Commonwealth for its world-class workforce and outstanding infrastructure. The location in Hanover County offers Cascades a turnkey facility ready for the company to install equipment and put a shuttered asset back into use, creating good jobs for Virginia workers in the region.”
“We are proud that a global company like Cascades Inc. will expand its U.S. market reach from the new operation in Virginia,” said Secretary of Commerce and Trade Brian Ball. “This tremendous project is a win-win for the company, Hanover County, and the Commonwealth, and reinforces Virginia’s business case and ability to compete. We look forward to a strong corporate partnership with Cascades, and thank the company for its significant investment and 140 new, high-paying jobs.”
“As Chairman of the Board of Supervisors I want to welcome Cascades Inc. to Hanover County, Virginia. The Bear Island Facility has played a critical role in the local Hanover economy for almost 40 years, and we are excited to see that continue with the significant capital investment being made to up-fit and repurpose the plant, along with the new jobs that this announcement will bring. I look forward to our partnership with Cascades Inc. for many years to come,” said Chairman of the Hanover County Board of Supervisors Sean Davis.
“Economic Development is a team sport and there are many people who have worked tirelessly to make this project a reality in Hanover, including our Board of Supervisors, Economic Development Authority, Administration, and Public Utilities and Planning,” said Hanover County Director of Economic Development Linwood Thomas. “We are excited to have played a small role in jump starting an idle facility that will put people back to work and bring significant tax revenues to Hanover County once again.”
“The decision made by Cascades Inc. to invest $275 million to build its manufacturing facility in Hanover County says, very clearly, that Virginia is a world-class business destination,” said CEO & Executive Director of the Virginia Port Authority John F. Reinhart. “This is an example of a manufacturer recognizing the value of the Commonwealth’s many business advantages and assets, which includes the expanding global reach of The Port of Virginia. When companies capitalize on these assets the result is investment and job creation in Virginia.”