This morning, Gov. Mike Beebe held a press conference with Georgia-Pacific CEO James Hannan to announce the timber products company would invest $250 million in its Crossett, Arkansas facilities.
Besides the significance of the massive investment, the company will add approximately 40 new jobs and, perhaps more importantly, preserve 1,300 jobs in the region.
Georgia-Pacific makes toilet paper and paper towel products in Crossett. The quarter-billion dollar investment will upgrade the plant as part of a new $500 advanced paper products manufacturing initiative.
One other major out-of-state announcement is planned as part of Georgia-Pacific’s modernization investment.
Talk Business will update this story later today.