Ronpak Relocates Corporate HQ

Ronpak Relocates Corporate Headquarters to Shreveport-Bossier

May 7, 2012

(SHREVEPORT–BOSSIER, La.) Ronpak founder Ron Sedley announced May 7, 2012 the relocation of the company's corporate headquarters from South Plainfield, New Jersey to Shreveport-Bossier, Louisiana. Governor Bobby Jindal joined Ronpak executives, local elected officials, community and business leaders and the North Louisiana Economic Partnership (NLEP) to celebrate the decision, which will mean another 100 new jobs in addition to the 175 new jobs announced last July.

Ronpak, a leading manufacturer of custom printed paper bags, packages and food wraps, also celebrated a groundbreaking for its new 155,000-square-foot manufacturing facility at the Caddo-Bossier Port. The company announced last July it would build a $16.8 million manufacturing facility, which will now also serve as the company's new corporate headquarters.

By 2018, Ronpak will employ 275 people in Shreveport with an average annual salary of more than $40,500, plus benefits. According to Louisiana Economic Development (LED), those direct jobs also will result in 783 new indirect jobs, leading to a total of more than 1,000 new jobs for North Louisiana.

"Ronpak is upping their investment in Louisiana because of our state's strong business climate, and most importantly, because we have the best workers in the world. Ronpak's decision to relocate their headquarters and add new manufacturing jobs is proof that our work to foster a strong business climate where companies can thrive is paying off. Today's announcement is yet another example of our strong commitment to attracting companies that want to invest in Louisiana and create opportunities for our people to stay here at home and pursue their dreams," said Gov. Jindal.

Ronpak cited support and incentives from state and regional economic partners, as well as the quality workforce available in Shreveport, as major reasons for deciding to relocate the corporate headerquarters to Shreveport-Bossier.

"When we started up in our temporary facility in the port, I had only one thing on my mind – making sure we took care of the needs of one of our most-valued customers," said Sedley. "We did that in a very short period of time. Only with the help of all the people of Louisiana could we have done this. Louisiana is a state that wants to help business succeed."

Following the opening of its new manufacturing center and headquarters, Ronpak will employ 132 in Shreveport by the end of 2013. The company will add approximately 30 new direct employees in each of the five following years, reaching employment of 275 by 2018.

NLEP and its state and local partners began working with Ronpak in late 2010, convincing the company that Louisiana offered a better business climate and workforce advantage over several competing states. The state offered a headquarters incentive package during initial negotiations. Ronpak later accepted the offer to move its headquarters from New Jersey, agreeing to expand its job commitment to the manufacturing operations. NLEP also assisted Ronpak in securing the headquarters incentives.

"North Louisiana Economic Partnership (NLEP), a regional economic development organization, and its partners have worked closely with Ronpak; first when it decided to locate at the Caddo-Bossier Port and now as the company moves its corporate headquarters to North Louisiana," NLEP Chairman Todd Perry said. "The collaboration between state, regional, and local economic development partners has been a winning formula in recruiting new companies and convincing them to expand in our region."

To secure the manufacturing expansion and headquarters relocation, the state is providing Ronpak a performance-based grant of $2.25 million to offset costs of equipment for the manufacturing center, payable in two annual installments in 2016 and 2017. The state also will provide a performance-based grant of $900,000 to offset leasing or financing costs related to the headquarters, payable in ten annual installments, beginning in 2013. Ronpak also will receive the services of LED FastStart™, the nation's top-rated workforce development program. The company is also expected to utilize Louisiana's Quality Jobs and Industrial Tax Exemption programs.

About Ronpak

Ronpak Inc. is a leading manufacturer of custom-printed paper bags, packages and food wraps. Since Ronpak's founding in 1947, the company has constantly developed new products to meet customer demand, and often those efforts include working with Ronpak's paper mills to develop new papers that have new properties. In addition to Louisiana, the company's locations include manufacturing locations in New Jersey and California. For more information, visit www.ronpak.com.