Anderson City Council approves $5.4 million bond for cardboard manufacturer
Feb. 9—ANDERSON — A $5.4 million bond for a Spanish company to locate in Anderson has been approved by the City Council.
Council members suspended their rules Thursday to pass all three readings of an ordinance to provide funding to SAICA Pack USA. Normally, council doesn't consider all three readings to pass an ordinance in one meeting.
The Anderson Redevelopment Commission this week approved the agreement with SAICA for the construction of a $120 million facility along Park Road.
The commission also approved $10 million in tax increment financing through a 10-year bond for the project.
The Spanish company plans to build a 350,000-square-foot facility to manufacture and distribute corrugated cardboard. The plant will initially employ 56 people. Future employment is expected to reach 118 workers, according to city officials.
SAICA has 107 facilities worldwide and employs about 10,000 people.
The company will pay from $39 to $41.50 an hour.
Greg Winkler, executive director of the Anderson Economic Development Department, said $4.7 million will be spent to widen Park Road between 53rd and 67th streets, relocate power lines and cover a portion of the cost for a rail spur.
The Indiana Economic Development Corp. will provide $300,000 for the rebuild of Park Road, according to Winkler.
He said the bonds will be repaid through increased property taxes on the developed land. The company is expected to pay $20 million in property taxes over the life of the bond.
"We look at double the amount of money we're investing in a new company," Winkler said. "This allows us to pursue other opportunities by improving Park Road."
Signage will direct truck traffic to travel south on Park Road to 67th Street, he noted.
Gonzalo Aragues, managing director of SAICA USA, said company officials are excited for SAICA to be part of the Anderson community.
Construction of the plant will start this spring. The plant is expected to be in operation by fall 2025.
"We try to employ as much local talent as possible for the Anderson plant," Aragues said. "We care about the environment and the people who work for us."
The company avoids waste by recycling paper products into corrugated cardboard, he explained.
The plan commission last month approved a re-plat request of four property owners in the 5600 to 6400 blocks of Park Road.
The 120-acre parcel, part of a larger rezoning of 252 acres last year, has been converted into four lots.
Follow Ken de la Bastide on Twitter @KendelaBastide, or call 765-640-4863.
