Gov. Shumlin & GW Plastics Announce Major Expansion & 70 New Jobs in Vermont
MONTPELIER – November 3, 2015 - Gov. Peter Shumlin and GW Plastics today announced that the company will expand its Royalton manufacturing facility, creating 70 new jobs in Vermont. The announcement comes after GW was exploring a number of locations outside the state for the expansion and the Governor recommended using $500,000 in Vermont Enterprise funds to encourage the expansion and job growth in Vermont.
"This is really great news for Vermont and especially the Royalton/Bethel region," Gov. Shumlin said. "This is exactly why we created the Enterprise Fund, to allow the state to move quickly and seize opportunities for continued job growth. I want to thank GW Plastics for continuing to grow their business in the best state in America."
GW will break ground on the 21,000 square foot expansion later this month. Once complete the expansion will be capable of housing an additional 30 thermoplastic and injection molding machines and an enlarged Class 8 cleanroom for its affiliate, GW Silicones. In addition to creating 70 new jobs, GW will invest nearly $10 million in real estate and equipment over the next three to five years.
"In a year that marks GW's 60th anniversary, we are delighted to announce this expansion reaffirming our commitment to growing in Vermont while serving the needs of our customers globally," said Brenan Riehl, President and CEO of GW Plastics.
The Vermont Enterprise Fund was established to help the state move quickly to seize opportunities and encourage the retention or creation of jobs throughout Vermont, like in this case with GW Plastics. Under the design of the Fund, legislative approval is required from the Emergency Board, which is made up of the Legislature’s fiscal committee chairs. The Emergency Board approved the Governor's recommendation for use of Enterprise funds for GW Plastics at a meeting in October.
In addition to Enterprise funds, GW will also receive Vermont Employment Growth Incentives (VEGI), recently approved by the Vermont Economic Progress Council, as well as Vermont Training Program funds to assist with training new employees and upgrading the skills of incumbent workers.