WACO, Texas — A big new investment is coming to Waco, in the form of a major new business.
Graphic Packaging International has chosen Waco as the site for a new facility for a "state-of-the-art coated recycled paperboard (CRB) machine", investing $1 billion into the Waco community.
According to the Greater Waco Chamber, it is Waco's largest economic development announcement to date.
Graphic Packaging is a company based out of Atlanta that specializes in "fiber-based consumer packaging solutions" for consumer product and foodservice companies.
According to the Chamber, the facility in Waco will be located on Gateway Blvd. in the heart of Texas Central Park, Waco's largest industrial park. The campus will stretch across 119 acres with 640,000 square feet in production and warehousing facilities.
The new facility will reportedly bring in 230 new jobs to the community, with an average salary of $65,000 as well as full benefits.
“We are looking forward to joining the Waco community and working with the great talent base in the area. We appreciate the strong support and engagement we received from the City of Waco and McLennan County as we conducted our site selection process,” said Michael Doss, president and CEO of Graphic Packaging. “Building a new recycled paperboard mill in Waco will enhance our ability to meet growing global demand for packaging made with recycled materials.”
The Chamber said the decision to bring the facility to Waco is part of an economic development collaboration between the City of Waco, McLennan County, the Waco Industrial Foundation and the Greater Waco Chamber. Each one reportedly will provide support for the project.
The investment into Waco will reportedly allow Graphic Packaging to grow its CRB platform and take advantage of growing consumer demand for recycled materials.
“After nearly a year of discussions with Graphic Packaging, we are pleased to welcome them to Waco,” said McLennan County Judge Scott Felton. “A group of local leaders and I spent a good amount of time with the company’s executive team, and we visited one of their facilities. They are undoubtedly committed to health and safety and value the opportunities Waco offers for community partnerships.”
Waco Mayor Dillon Meek also voiced his support for the project.
“I am thrilled that Waco will have its first billion-dollar investment in the community,” said Meek. “I’m thankful for the Graphic Packaging leadership team, who saw first-hand how our community comes together for the greater good, including workforce development and long-range infrastructure plans. Our community’s commitment to collaboration between local government, businesses, and education greatly benefits large and small businesses. Thank you to all the parties who diligently worked to achieve this important milestone. Welcome to Waco, Graphic Packaging.”