Board Converting News, January 17, 2022

Premier Packaging To Build $60M Facility In Lebanon, TN

City Manager Scott Brunka said Premier Packaging is currently leasing a facility in Mason, Tennessee, and is building the new facility to expand their operations. He said the final details for the project are being completed and he expects Lebanon City Council to consider the final agreement and land purchase at its Jan. 25 meeting. The economic development agreement also includes the city constructing a new public street for access to the proposed facility. The cost of the new roadway is estimat- ed at more than $1.23 million and will be offset by grants totaling $650,000 from JobsOhio and the Ohio Depart- ment of Transportation. Premier Packaging, LLC is a national manufacturer and distributor of packaging for the e-commerce, technology, manufacturing, medical, and food industries. According to its website, the company operates shipping and produc- tion facilities in 38 states, Canada and Mexico. Michael Merman, Chief Financial Officer for Premier

Louisville, Kentucky based Premier Packaging is planning to purchase 45.4 acres in Lebanon, Tennessee to build a $60 million facility that will consist of two buildings for manufacturing and distribution. According to local media reports, Phase 1 of the project will be the construction of a 277,000-square-foot distribution center, with construction tentatively to begin in the second quarter of 2022. Phase 2 of the project, a 205,000-square-foot manufacturing facility, is planned for construction in the third quarter of 2023. Once the new buildings are complete, it will result in the creation of 80 new jobs and the retention of 49 exist- ing jobs that will move to Lebanon. The project’s associat- ed annual payroll is estimated at more than $6.8 million.

Packaging, said the company has had a fa- cility in Mason for the past five years to serve its markets in Columbus, Cincinnati, Dayton and Northern Kentucky. “It just made sense to expand there be- cause its been a good business environment for us and the employee market has been great,” Merman said. NAM: ‘Great Resignation’ Quits Hit Record High There were 858,000 manufacturing job openings in November, down from a re- cord 955,000 in October, according to Chad Moutray, Ph.D. and Chief Economist at the National Association of Manufacturers (NAM). While the pace of job postings decel- erated somewhat, it was the eighth straight month with openings that have exceeded 800,000, averaging 887,000 over that time frame. Nonfarm business job openings eased from 11,091,000 in October, which was the second highest on record, to 10,562,000 in November. There were 6,877,000 unem- ployed Americans then, translating into 65 unemployed workers for every 100 job open- ings in the U.S. economy. Total nonfarm business quits jumped to 4,527,000 in November, a new all-time high. This speaks to the high degree of “churn” in the labor market, and it exacerbates the diffi- culties that companies are experiencing. Turning to the latest jobs numbers, man- ufacturing employment rose by 26,000 in December, increasing for the eighth straight CONTINUED ON PAGE 8


January 17, 2022

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