International Paper to build $260 million plant in Iowa

International Paper has acquired land in Waterloo, Iowa, for the construction of a state-of-the-art corrugated box plant. The project represents a $260 million capital investment and is expected to create 90 jobs incented at a qualifying wage of at least $23.01 per hour,” the IEDA said. In addition, the IEDA board awarded International Paper tax benefits through the High Quality Jobs program.

International Paper’s Chairman and CEO, Andy Silvernail said: “I’m excited to share we are investing in a greenfield state-of-the-art corrugated box facility in Waterloo, Iowa. This is a great example of the investments we’re making as we continue with our ambitious plans to optimize our mill-to-box system and generate attractive returns. This world-class box plant is designed to deliver on our strategy, 20% lower cost, designed in product quality and just-in-time service. All of this is aligned to a geography and end markets where we are positioned to win.”

The new box plant in Waterloo will be in close proximity to International paper’s containerboard mill in Cedar River, which produces recycled containerboard from Old Corrugated Containers (OCC).

“The facility will be strategically located close to some of our best customers, specifically in the protein segment, while being in a freight advantage distance from one of our mills. The plan is to start construction this year and targeting for a start-up in 2026. So again, it’s a best-in-class facility designed specifically to delight our customers, achieve a low-cost position to drive profitable growth,” Silvernail said.