Matrix Packaging of Missouri Inc., a subsidiary of Sonoco Products Co., will receive $572,267 in state tax credits, the Missouri Department of Economic Development said Friday.
The Hazelwood business was approved for the credits under the Enhanced Enterprise Zone (EEZ) program to assist in the creation of new jobs and investment.
Matrix was approved for the tax credits, over a five-year period, for the creation of 90 jobs and investing $16.6 million for the expansion facility at 5801 N. Lindbergh Blvd. in Hazelwood.
The Hazelwood plant currently operates nine blow molding lines, producing plastic bottles for household, food, and health and beauty products.
The Enhanced Enterprise Zones are geographic areas designated by local governments and certified by the DED. Designation is based on certain demographic criteria, potential to create sustainable jobs in a targeted industry and demonstrated impact on local cluster development. The EEZ program began in 2004.
Hartsville, S.C.-based Sonoco Products Co. (NYSE: SON) is a $3.6 billion global manufacturer of consumer and industrial products, and provides packaging services. It has more than 300 operations in 35 countries.
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