A recently formed partnership between a technology company and investment firm is proposing a $160 million paper and cardboard recycling plant on land in the Port of Tampa Bay. The facility is expected to create 96 new jobs paying an average yearly salary of $55,675, slightly above the average annual private-sector wage in Hillsborough County.
New Jersey-based Kamine Development Corporation Sustainable Infrastructure (KDC) and technology company Celadon announced in December plans to invest $300 million in two new facilities to serve North America, but did not identify the locations. It turns out one of those sites under consideration is land at the northwest corner of Guy N. Verger Boulevard and Gatx Drive on Tampa Port Authority land, according to county records.
Celadon Development Corp. plans to process 800,000 tons of mixed paper and used corrugated cardboard into recycled pulp and paper at its two locations. As part of the deal, Hillsborough County will be asked to forego half of the company’s property taxes for a seven-year period beginning in 2025. The exemption is allowable under a 2010 voter-approved tax abatement program that expires next month. The tax reduction is expected to be worth $346,000 annually for each of the seven years.