International Paper Co. in Coosa is gearing up for a major expansion, investing $100 million into their facility.
Thanks to a bond package approved by the Rome-Floyd County Development Authority, the company will get a 10-year tax break. They'll pay just 25% of their taxes, with the remaining 75% waived for the next ten years.
This expansion is primarily focused on acquiring new machinery and equipment for the facility. This move not only boosts the company's capabilities but also signifies a substantial investment in the local economy, potentially creating new jobs and enhancing the region's industrial infrastructure.
The International Paper Company is an American pulp and paper company, the largest such company in the world. It has approximately 56,000 employees, and is headquartered in Memphis, Tennessee.