O-I Glass Inc. has announced that they will invest $239 million for their new glass bottle manufacturing plant in Bowling Green. In addition, the establishment of new manufacturing facility is likely to create 140 high-wage jobs for the Kentucky residents.
Gov. Andy Beshear came up with the news that O-I Glass will setup this new manufacturing facility. “We are continuing to attract new employers that are focused on longevity, sustainability and creating quality jobs for Kentuckians,” said Beshear. “O-I Glass is doing all that and more. This new facility in Warren County will create great job opportunities for our residents and bring innovative new technology to Kentucky’s manufacturing sector.”
O-I Glass to being operation in 2024
O-I Glass is a Fortune 500 company that has specialized in the manufacture of glass products. Furthermore, the new facility will assist the company to ramp up their production capacity of glass bottles. Hence, they will supply these bottles for a variety of consumer beverages with a focus on the premium spirits market. Moreover, the project will employ state of the art new technology, known as Modular Advanced Glass Manufacturing Asset (MAGMA). Therefore, it will help in increasing overall speed and efficiency in the manufacturing process. According to Gov. Beshear the facility will start its operations by the mid of 2024.
Tax incentives and employment opportunities
O-I Glass is operating for the past 120 years and employing around 24,000 employees globally. Moreover, it will manufacture glass products for nearly 5,000 companies which will employ more than 25,000 employees. In addition, the facility itself is likely to create more than 140 new full-time jobs. The Kentucky Economic Development Finance Authority (KEDFA) today preliminarily approved a 10-year incentive agreement. They have approved this incentive program under the Kentucky Business Investment program. O-I Glass may receive a tax incentive of $4 million over an investment of $239.3 million. In addition, they have to meet the target of creating 140 full-time jobs for Kentucky residents across 10 years. Alongside, the company will have to pay an average hourly wage of $43 including benefits across those jobs.
“O-I is determined to be the most innovative, sustainable and chosen supplier of brand-building packaging solutions. The new plant is an important milestone as we continue the pursuit of our expansion plan in the US and globally, building a bright future for the company and its stakeholders. Glass is more relevant than ever, and we are proud to support our customers with innovative solutions.” CEO of O-I Glass Andres Lopez said in his statement.
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