Viking Paper at 1001 PIDCO Drive in Plymouth was approved for a 7-year phase in tax abatement by the Plymouth Common Council.
On Monday evening, Greg Hildebrand from the Marshall County Economic Development Corporation and Justin Mooter, CEO of Viking Paper appeared before the council to answer any questions on the $7.8 million investment for the Plymouth facility.
City Attorney Jeff Houin reminded the council that at their last meeting, they passed a declaratory resolution declaring the Viking Property to be within an Economic Revitalization Area and that triggered Monday’s public hearing.
Hildebrand told the council that Viking Paper had received a tax abatement 7 years ago for a 40,000-square-foot addition to the building with a rail spur. They completed that tax abatement. At that time, they estimated hiring no additional employees to the 28 they were retaining. Seven years later they now have 43 employees who are making at least $24 an hour. This new investment will allow them to hire at least one new employee.
Justin Mooter told the council with the addition they did last time they can spot four rail cars inside the building and one rail car is equal to about 3 trucks.
The new equipment they are putting in will give them the longest, triple-wall corrugated paper machine in North America. The sheets had been 204 inches and now they will be able to run 315 inches. The machine can slot, score, dye-cut, and print the sheets. The new machine will allow them to increase running speeds and have more efficiency.
The Plymouth Common Council unanimously approved the resolution confirming the real estate for Viking Paper to be in an economic revitalization area for a personal property tax abatement phased in over 7-years.
