11/2/2015 12:32:00 AM
HEADLINES
Threaded nylon fasteners manufacturer Micro Plastics Inc. plans to invest $2.4 million to locate a facility in Melbourne, AR, Arkansas Business reports.
Flippin, AR-based Micro Plastics currently employs 387 workers and will create 79 new jobs over five years, with production on the Melbourne facility slated to begin in the first quarter of 2016.
“For almost half a century, Micro Plastics has been a leader in the plastics sector,” stated Arkansas Gov. Asa Hutchinson. “When the company moved their headquarters from Illinois to Arkansas, they were looking for a location and workforce that would foster continued success. They found that here.”
The Arkansas Economic Development Commission said the company is receiving a $200,000 grant for equipment, along with tax credits based on payroll of new jobs, sales tax refunds on building materials, machinery and equipment, according to the Associated Press.
Micro Plastics was founded in the early 1960s in Chicago by Roy Hill. His son, Tom, now leads the company.
The 283,000 sq ft Flippin facility has 93 plastic injection molding machines that produce plastic components, including nylon hardware such as screws and nuts, electronic components and cable ties.
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