RDA Says Pratt Plan Its Largest Project
September 18, 2013 — The Northwest Indiana Regional Development Authority says it is part of a deal to expand a Valparaiso paper processing facility.
Northwest Indiana RDA says it pledged $1.4-million as part of an incentive package to, “bring more than 130 jobs and $200 million in investment to Porter County.”
That investment was announced yesterday by Pratt Industries, Inc., the nation’s fifth-largest largest corrugated packaging company, which as “the world’s largest, privately-held 100% recycled paper and packaging company, will invest approximately $260 million to build and equip a state-of-the-art recycling plant and supporting facilities in Valparaiso. The expansion is projected to create up to 137 new jobs by 2018.”
Jeff Good is President of Good Hospitality Services and Porter County’s appointee to the RDA Board of Directors, where he is also Chairman of the RDA’s Economic Development Working Group which handles requests for its Deal Closing Funds. He says, “This deal is notable for being the largest investment we have helped land so far, and we hope to be able to announce more deals in the near future.”
RDA says, The Indiana Economic Development Corporation (IEDC), the City of Valparaiso and the RDA worked in concert to provide support for the Pratt expansion. The RDA incentives represent the fourth time the organization has employed its Deal Closing Fund to help bring new jobs and investment to the region, and the first such use in Porter County. Previous projects that received Deal Closing funds were the CN Kirk Yard expansion in Gary, the new Modern Forge plant in Merrillville and the relocation of Land O’Frost’s headquarters to Munster. Including the Pratt expansion, these four economic development projects will result in more than $385 million in new investment and more than 550 new jobs in Northwest Indiana.”
The RDA describes itself as a “quasi-governmental development entity entrusted to make public investment decisions within a regional framework for supporting catalytic infrastructure projects and inducing private sector investment. Its mission is to be a catalyst for transforming the economy and quality of life for Northwest Indiana.”