Phoenix Closures, a Naperville, Ind.-based manufacturer of plastic packaging, said it plans to locate a new facility in Naperville, Ind., creating up to 90 new jobs over the next several years.
The company will renovate and expand a former manufacturing plant on a 57-acre site in Greencastle.
The company plans to use the 250,000-square-foot facility to make food-grade packaging, according to the Indiana Economic Development Corp.
"In addition to meeting our specific manufacturing requirements, the Greencastle site is located near our strategic markets and has potential for growth," said Ed Buck, vice president of manufacturing, Phoenix Closures.
"The availability of a crane bay in the building and rail service made the building a viable option for redevelopment."
The firm specializes in injection-molded closures for the food and beverage, pharmaceutical, nutraceutical and household chemical industries.
Phoenix Closures will begin building the new facility later this year, and expects to start production at the new site in late 2012.
The Indiana Economic Development Corp. offered Phoenix Closures up to $800,000 in performance-based tax credits and $200,000 in training grants based on the company's job creation plans.
The city of Greencastle will consider additional property-tax abatement at the request of the Greencastle/Putnam County Development Center.