The Wapakoneta City Council met at City Hall on Monday evening and the council was presented with the final agreement for a paper mill to be built on Short Road, south of Wapakoneta.
The city is currently in the process of purchasing and ultimately annexing the land on which the plant is to be built.
The recycling and manufacturing plant is expected to introduce millions of dollars and hundreds of jobs to the local economy.
Pratt Industries, a recycling company, is the fifth largest corrugated box producer in the United States. Its major customers include Amazon, Proctor and Gamble, Home Depot and the U.S. Postal Service, and brings in roughly $3 billion of annual revenue.
The project, which is in conjunction with Jobs Ohio, is to be completed in two phases.
Phase one includes $250 million of capital investment and the creation of 100 jobs. Average wages for phase one employees will be around $25/hour with an estimated annual payroll of $5,200,000.
Phase two will introduce another $60 million capital investment and 200 additional jobs. Estimated payroll for the second phase is $9,152,000.
In comparison, about $26 million were invested in the Golden Fresh Farms greenhouse.
The opening of the mill will also...
For more on this and other stories, pick up a copy of The Wapakoneta Daily News.