New Beloit manufacturer hosts ribbon cutting

A global sustainable packaging manufacturer cites Wisconsin’s business environment as a reason to establish its newest plant in Beloit. Pratt Industries Global CEO Brian McPheely Monday morning hosted a ribbon cutting with Governor Scott Walker for the new $52 million facility in the Gateway Business Park.  Pratt officials say the Beloit plant is it’s most technologically advanced plant in North America. The governor was quick to point out his administration’s efforts to highlight how “Wisconsin is open for business”.  State incentives for Pratt Industries to locate in Wisconsin included a $1.75 million Business Opportunity Loan Award and a $2.4 million Jobs Tax Credit Award through the Wisconsin Economic Development Corporation.  Pratt Industries uses one-hundred percent recycled materials to produce packaging for companies in Wisconsin and around the world. It’s facility in Beloit’s Gateway Business Park is expected to employ 140-full time employees.