12/10/13 The Plymouth Common Council took the final steps in approving a Tax Abatement for American Container during their meeting Monday night.
Derek Spier from the Marshall County Economic Development Corporation gave a brief back ground of the company that started business in Plymouth in 1965 on Western Avenue by Leonard Isban. In 2006 the company acquired the Jeldwin facility and moved into the 125,000 square foot industrial building.
American Container will be purchasing news printing equipment valued at $3 million to capture new business and add three new employees to their 47 current staff.
Spier said the company plans to expand in the spring by building a 50,000 to 55,000 square foot warehouse estimated to cost between $2.5 and $3 million and hire another two to three in the future. In total the Isban’s will invest a total of $5.5 to $6 million in both projects.
American Container Mike Isban and CEO Leonard Isban were on hand to answer questions. Leonard commented to the City Council, “We have not missed one day of work except for inclement weather or a payday. That’s a long period of time and is a significant statement about our company.”
The Plymouth Common Council approved a 10 year personal property tax abatement.
