Florida-based Soule planning to buy 100,000-sq.-ft. building in Athens, Alabama, with US$2.1M investment; new plant scheduled to start operations in late August or early September, will produce PS and corrugated boxes, shipping crates

DECATUR, Alabama , June 25, 2014 () – Soule Co. has became the second company in the last 30 days to select Athens for a new plant.

The Lutz, Florida, foam packaging company announced at the Athens City Council meeting Monday that it plans to buy the 100,000-square-foot Eaton building at 300 East Elm St.

Asahi Kasei North America announced in May that it plans to locate a plastics plant in the Elm Industrial Park.

Soule plans to invest $2.1 million and hire 21 people over a three-year period, Limestone County Economic Development Association board Chairman Tony McCormick said.

The City Council approved $1.2 million in tax abatements Monday.

This includes $94,375, spread over 10 years, in property tax abatements, and an estimated one-time sales tax abatement of $23,225 during construction.

Council President Harold Wales said he likes that Soule will use an empty building.

"I don't think it looks good for a city to have a lot of empty, unused buildings," Wales said. "Buildings with cars parked out front leave a good impression."

The new plant, scheduled to start operations in late August or early September, will produce foam, corrugated boxes and shipping crates. The company has a medical division that produces patient-positioning foam products.

McCormick said Athens was chosen because of its location on Interstate 65 and U.S. 72. The company has plants in Cleveland, Tennessee, and Lutz.

Mayor Ronnie Marks said Soule owner Jerry Flat has a friend in the city, and the economic development association did a good job of selling Athens.

"This is a good project that allows us to diversify our city with a new product," Marks said.

The plant is expected to create $77,216 in property tax revenues over a 10-year period and $14,925 in sales tax revenues for education.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.