HENDERSON, Ky. (KT) – Pratt Paper LLC has announced the company will build a new $400 million paper mill in Henderson, a project which has committed to creating 321 well-paying jobs over the next five years.
Pratt’s investment is the largest investment in that region of Kentucky in more than 25 years, the largest in the state in nearly two years and the third-largest job-creation announcement of 2021.
“This is a significant investment in Kentucky and one that will make Pratt Paper a major employer in Henderson County for years to come,” said Gov. Beshear. "Pratt is a company with a vision for the future, and I could not be more proud that future will include Kentucky. We’re not just rebuilding our economy in the commonwealth but surging ahead to levels we have not seen before. This is happening because great companies like Pratt Paper and strong leaders like Anthony Pratt can see where Kentucky is headed and know our skilled workforce is the partner they need to succeed.”
Pratt plans to build two facilities totaling 1.15 million square feet along KY-425 in Henderson County. The company’s initial investment will support the construction of a state-of-the-art, 450,000-square-foot paper mill that will manufacture 100% recycled products. Company leaders expect additional future investment to construct a 700,000-square-foot corrugator plant to produce corrugated sheets and boxes, including pizza boxes and packaging for major distributors and big box stores, using paper sourced from the new paper mill.
“The paper mill will be the world’s most advanced, environmentally friendly 100% recycled paper mill,” said Anthony Pratt, executive chairman of Pratt Industries, about the $400 million green manufacturing investment. “It is the single biggest investment our company has ever made and will create 1,000 jobs, including well-paying, American, green-collar manufacturing and construction jobs."
Pratt leadership anticipates construction of the roughly 120-job paper mill will begin in March 2022, with completion slated for fall 2023. The corrugator facility is expected to be completed by the end of 2026 and employ approximately 200 people once fully operational. Company leaders also expect the project to contribute to approximately 700 construction jobs over the coming years.
Beshear added the jobs will pay $39 per hour.