Chesterfield-headquartered plastic packaging company, Silgan Plastics LLC receives a US$13 million city financing packageto equip a new plastic packaging manufacturing facility it is building in Hazelwood City, Missouri, The financing,, which has been approved the Hazelwood City Council, is in the form of industrial revenue bonds to be issued by the city and purchased by Silgan's parent company, Silgan Holdings Inc of Stamford, Connecticut. The bonds are to be repaid by Dec. 31, 2025, according to David Cox, Hazelwood's economic development director.
Last month, the council approved a US$1.4 million, 12-year loan agreement with Silgan's Chesterfieldcompany to create some 120 jobs; a US$4.3 million annual payroll and about US$300,000 in new yearly tax and fee revenues to the city where Silgan plans to open a plastic packaging manufacturing facility later this year, according to reports.
The 335,000-sq ft plastic bottle and closures packaging plant is being built on the site of the former Ford Motor Co vehicle assembly plant in what is now Aviator Business Park on Lindbergh Boulevard.
The company is expected to move its Chesterfield headquarters to the Hazelwood site within two to three years.
(PRA)
