Plastics recycler to invest $100M in Posey County
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Houston-based plastics recycler and resin producer Avangard Innovative has announced plans to invest $100 million to build a 500,000-square-foot facility in Posey County. The company says the project will create over 200 jobs by the end of 2024.
The plant, which will be located in Mount Vernon, will recycle film and flexible plastics and convert the materials to post-consumer recycled (PCR). This process replaces manufacturing of new plastics from virgin materials, and reduces plastic waste from going into a landfill.
“These are exciting times for Avangard Innovative, the State of Indiana, and the local community of Posey County,” said Avangard Innovative Chief Executive Officer Rick Perez. “As we collaborate to advance recycling and sustainability solutions, we will positively impact the environment, the economy, and the overall well-being at local, state, and national levels. We couldn’t do this without the support of the Evansville Regional Economic Partnership.”
The company says it selected the Evansville region because of its proximity to market demand in the Midwest and material generators, namely Berry Global Group Inc. (NYSE: BERY), a Fortune 500 global manufacturer and marketer of plastic packaging products.
“We are pleased to welcome Avangard Innovative to Southwest Indiana. We are excited for their potential to contribute to a more circular economy for plastic here in Indiana,” said Rob Flores, vice president of sustainability at Berry.
E-REP Vice President of Economic & Community Development Jenna Richardt told Inside INdiana Business that collaboration was key to landing the deal and continues to build upon southwest Indiana’s niche in the plastics industry.
“One of our initiatives that we really want to focus on for our area is a clean environment with lots of sustainability. And we’re bringing in a plastics recycling company that can really help our local companies grow and thrive,” said Richardt. “We’re really talking about that sustainability factor of how each of them can help one another.”
LISTEN: In an interview with Inside INdiana Business reporter Alex Brown, Richardt explains how this deal help southwest Indiana’s growth in the plastics sector.
Avangard Innovative plans to begin construction in 2023, and the facility is expected to be operational in 2024.