Toyo Ink International and The Research Valley Partnership today announced that they have entered into an economic development agreement to build a $20 million manufacturing site in Bryan, TX in the heart of the Research Valley. Parties to the agreement are The Research Valley Partnership, the City of Bryan and the Bryan Business Council. The facility will manufacture and sell specialty polymers and related products, such as coatings, fluid inks and adhesives for the U.S. market.
Projected to generate an annual output of 5,000 tons within three years, the new site will bolster Toyo Ink’s expanding color and polymer chemicals business operations and is expected to strengthen the company’s position in the U.S.
The 22-acre location for the Toyo Ink plant is in the Bryan Business Park, a commercial business park development along Harvey Mitchell Parkway in a northern section of the city. Provisional plans for the construction of the 55,000 sq. ft. facility include two production sites, a warehouse and an administrative office. The deal will directly create at least 20 jobs for skilled workers.
Toyo Ink is slated to break ground for the state-of-the-art production facility some time this spring. Construction is due to be completed by the first quarter of 2008 at a projected investment of $20 million for phase one. Capital investment for subsequent phases of development is expected to be made in stages in accordance with market demand.
Toyo Ink selected Bryan in consideration of a competitive incentives package, excellent land location and condition, good access to the city even from areas outside the U.S., and proximity to a large pool of skilled labor, essential services and transportation infrastructure.
“I truly appreciate the support we've received from The Research Valley Partnership and Bryan officials in bringing this project to life,” said Fusao Ito, president of the Toyo Ink Group in America. “The outpouring of hospitality from the community was also a deciding factor in choosing Bryan for Toyo Ink’s next production site.”
“I feel the Toyo Ink project is an outstanding fit for our world-class community and will bring a significant presence to the Bryan Business Park,” Mitch Morehead, Research Valley Partnership chairman, said. “It has been an honor and a pleasure for The Research Valley Partnership to negotiate with the leadership of Toyo Ink to bring their 100th year project to our community.”