Arkansas News Bureau
LITTLE ROCK — An Ireland-based company will create 121 new jobs when it locates its U.S. headquarters and a new $6.8 million manufacturing facility in Crossett, the Arkansas Economic Development Commission announced today.
AREZ LLC plans to produce rosin-based resins for the printing ink industry at a new 270,000-sqare-foot plant that will have a capacity to produce 25 million pounds of resin annually, the AEDC said.
Construction is to begin immediately, with production beginning in 11 months.
The plant’s primary supplier of resin will be Georgia-Pacific of Crossett, which announced last month plans to spend $250 million to upgrade its Crossett paper mill to produce high-quality toilet paper and paper towel products.
“With options throughout the country, AREZ chose to locate its first U.S. facility in Arkansas, and they will be pleased with the talent and work ethic they find here,” said Gov Mike Beebe, who attended a news conference in Crossett to announce the project.
The city of Crossett will receive $1.46 million in Community Development Block Grant funds for construction of a rail spur and for the purchase of equipment, said AEDC spokesman Joe Holmes.
The company will receive a 3 percent income tax credit on payroll for the new employees for the next five years, plus $4.75 million in bond guarantees from the state economic development agency and the Arkansas Development Finance Authority, Holmes said.
