Plastics film leader Charter Next Generation Inc. is investing $270 million to expand in Milton, Wis.
The investment will create more than 340 jobs in the next eight years, according to a news release from the Wisconsin Economic Development Corp. (WEDC). WEDC is providing up to $5.6 million in performance-based tax credits for the expansion.
In the release, CNG CEO Kathy Bolhous said the Chicago-based firm "is constantly seeking innovative opportunities that align with our unwavering sustainability-first mindset and our mission to deliver best-in-class material science solutions."
She added that CNG's partnership with WEDC "allows us to expand our product offering in Milton … [and] also ignites an exciting opportunity to boost our employee base and benefit the Rock County infrastructure, and eventually all of Wisconsin."
The Milton site "is poised to continue significantly growing its business," according to the release. "With four plants in Wisconsin alone, the expansion will enable CNG to increase its sustainable manufacturing capabilities within the state … while providing economic growth to local communities," state officials said.
"WEDC is pleased to partner with Charter Next Generation as it establishes a second site for its operations in Milton," WEDC CEO and Secretary Missy Hughes added.
The city of Milton is supporting the project with a tax deal that would provide up to $1.6 million over a 10-year period. The city also will be undertaking several infrastructure projects to advance construction of the new facility.
"We are excited to see CNG expand their operations to a new facility within the city, and we are pleased to partner with them again on this next chapter," City Administrator Al Hulick said.
CNG is North America's eighth largest film and sheet maker, with annual sales estimated at $1.2 billion, according to a Plastics News data. The firm was formed in 2019 from the merger of Charter NEX Films Inc. and Next Generation Films Inc.
In August, CNG acquired Polymer Film & Bag Inc., the extrusion portion of Polymer Packaging of Massillon, Ohio. CNG officials said at the time that Polymer Film & Bag's coextrusion lines "offer superior quality, environmentally responsible films featuring a stronger but thinner design that surpass the properties of thicker conventional films."