A Salt Lake City-based packaging manufacturer will expand operations in Utah, adding up to 354 jobs over the next seven years.
Packsize International made the announcement about the $9.2 million project last week after being approved for a state incentive from the Governor’s Office of Economic Development (GOED) board.
Founded in 2002, Packsize creates an “on-demand” packaging system placed onsite for companies, allowing them to save an average of 20 to 30 percent in corrugated packaging costs. The system includes custom box-making hardware and software and other services designed to reduce corrugated inventory requirements, increase handling and transportation efficiencies, and minimize wasted shipping space.
Packsize has operations in more than 25 countries. Among the industries using Packsize are fulfillment/e-commerce, furniture, cabinetry, printing/marketing and manufacturing. Among its customers in the U.S. are Staples and Cabela’s.
“Utah’s bright entrepreneurial community and labor market make it attractive for Packsize to compete globally from here,” said Hanko Kiessner, chief executive officer. “We affirm our commitment to serving as a proud member of Utah’s growing community of companies that are participating in building the ‘Industrial Internet of Things’ as part of the fourth industrial revolution, with a focus on sustainability and the circular economy.”
The GOED board awarded the company a tax incentive of up to $1.2 million tied to the job creation. The new jobs are expected to pay about $125.3 million over seven years, and new state tax revenues are expected to total about $6 million during that time.
“Packsize is making an exceptional investment in our community,” said Val Hale, GOED’s executive director. “The company’s commitment to the environment while improving business efficiency will have a positive impact for years to come. We’re proud they will call Utah home as they continue to expand internationally.”
“Packsize’s innovative technology helps companies decrease waste and improve their bottom line,” said Michael Flynn, chief operating officer and acting chief of staff at the Economic Development Corporation of Utah. “This win-win value proposition will allow them to continue to prosper for years to come. Having that future growth take place in Utah is a tremendous win for the state.”
