Irish company to open plant with more than 120 jobs in Crossett

CROSSETT — An Ireland-based resin manufacturer will open a subsidiary company and a new plant in Crossett, creating more than 120 new jobs, officials said today.

AREZ expects to invest $6.8 million in the new, 270,000 square-foot facility, which will produce up to 25 million pounds of resin each year for use in printing ink.

Gov. Mike Beebe, U.S. Rep. Mike Ross, Crossett economic development officials and company leaders made the announcement at a news conference Monday afternoon at the Crossett Economic Development Foundation,

Wages are expected to average $16 to $17 an hour and the first managers will likely be hired in the spring, AREZ Chief Executive Officer John Smith said in an interview after the announcement. The plant is expected to be operational by October 2011, though Smith said poor weather could delay it.

It was the second large-scale economic announcement in Crossett in several weeks after Georgia-Pacific announced a $250 million upgrade of its plant here.

Beebe referenced the successive developments in remarks before a crowd of more than 100 people.

"You talk about morale," he said. "I've never seen folks in Ashley County grinning as much as I've seen lately."

Smith donned a Crossett baseball cap to loud applause as he thanked the community for making Crossett an attractive place to locate. The site, which will house AREZ's U.S. headquarters, is the company's first North American location.

"Arkansas is bringing back 122 jobs from China," Smith said, adding Georgia Pacific will supply one of the rosins critical to production.

In addition to the support from the community, Smith credited the Georgia Pacific connection and the presence of a technical college as key factors in the decision to pick Crossett. The company may work with the University of Arkansas at Monticello's Crossett campus to develop curriculum for future employees.

There were also incentives from the state. Among them, AREZ received a 3 percent tax credit on payroll for new, full-time employees over its first 5 years, a sales and use tax refund on certain materials, a $780,000 Community Development Block Grant loan for the purchase of equipment and a bond guaranty of $4.75 million shared by the Arkansas Economic Development Commission and the Arkansas Development Finance Authority.

The city of Crossett was also given a Community Development Block Grant to build a rail spur that will serve the plant.

"I've just got to hand it to the state. They wanted us here and they got us," Smith said. "And it's nice to be here."

AREZ is a subsidiary of AREZ International.