New Markets Tax Credit Coalition

Colormasters Inc.

Investment

  • NMTC Amount: $22,000,000
  • Total Project Cost: $22,339,535

IMPACT

  • 290 FTE jobs
  • 80 jobs created and 210 jobs retained.

Investor

Project Description

Colormasters Inc., a key player in flexible packaging since 1986, has seen remarkable growth, expanding from a 10,000 sq. ft. facility with one bag machine to over a million sq. ft. of manufacturing and warehousing space. Housing over 24 machines, they provide packaging and film solutions to the market. Their extrusion facility, established in 2012 with two three-layer blown film co-extrusion lines, now boasts 16 lines capable of producing 180,000,000 pounds of polyethylene film annually. All equipment is sourced from Windmoeller and Holscher.

With a 120,000+ sq. ft. facility and 22 silos storing 5,000,000 pounds of resin, along with a rail spur accommodating 14 railcars holding 2,520,000 additional pounds, the facility has experienced significant growth. Employment has surged from 30 to 207 individuals, marking a 600% increase since fiscal year 2013. Extrusionmasters, Inc., an affiliate, seeks NMTCs to acquire equipment to boost production and meet demand. Plans include purchasing four additional three-layer blown film co-extrusion lines and ancillary equipment, aiming to increase output by 50,000,000 pounds to reach a total capacity of 230,000,000 pounds.

MAP

Address: 629 Smith Rd, Albertville, AL 35951

Census Tract: 1095030903

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