An Australian company is committing $500 million to Pennsylvania’s recycling and green energy infrastructure over the next ten years.
The announcement was made by Pratt Industries in central Pennsylvania yesterday. Gov. Josh Shapiro was on site as the company announced it would be investing in the state’s recycling programs. The investment will lead to hundreds of jobs in the state, according to officials.
Shapiro commended the announcement, saying that companies can create jobs while helping the environment.
"Pratt Industries is the world's largest privately-owned company that manufactures 100 percent recycled packaging and paper," Shapiro said.
Shapiro continued to mention how important it is for foreign companies to invest in Pennsylvania and that, according to Commerce Department data, foreign-owned companies have created more jobs in Pennsylvania than any other.
"That's good for business. It's good for Pennsylvanians, it's good for our workers and it's great for our future. I want you to know my administration is prepared to build on that progress by investing more time and effort into cultivating and developing these international ties," Shapiro said.
This $500 million investment is in addition to a previous $500 million investment that Pratt Industries previously committed to investing in Pennsylvania over the next decade.