The Delaware Economic Development Office reports that a new Croda plant will have a positive economic impact on the state. This follows approval of a state aid package for the site.
The plant at Croda’s Atlas Point’s operation is expected to be in operation by early 2017. The expansion will enable Croda to produce non-ionic surfactants from plant-based bio-ethanol rather than petrochemicals. Corda is a specialty chemical company based in the United Kingdom.
The project, is made possible by a $170 million capital investment through to 2017 by Croda as well as state funding. The expansion will bring 30 new jobs and allow the retention of 47 positions. Click here for previous story.
“Croda has made a significant contribution toward the future of Delaware’s economy and environment. We are proud to partner with a company that invests as heavily in its workforce as it does the world around them,” Gov. Jack Markell said. “Croda is also the latest example of a Delaware-based company that is finding new and better ways to make existing products. By providing more sustainable products to its customers, the company has put itself in an excellent position for future growth.”
State and local officials took part in a ceremonial groundbreaking ceremony last month for the new plant.
Croda’s Atlas Point Site manufactures surfactants, emulsifiers and demulsifiers, with about half its production bound for consumer products and the other half for industrial uses. Currently, the Atlas Point Site employs 200.
“This investment represents a tidal shift, especially for consumer goods manufacturers who are striving for sustainability and performance,” said Steve Foots, Croda International Plc Group Chief Executive. “At Croda, sustainability is fundamental to who we are and what we do, and we’re proud to be launching this first-of-its-kind initiative here in North America.”
On Monday, Croda was approved for a maximum total of nearly $2.5 million in Delaware Strategic Fund grants, including: A job retention grant of $287,828.; a job creation performance grant of $699,556; and a capital expenditure grant of a maximum of $1.5 million.
“Croda continues to make major investments at their Atlas Point facility in Delaware. This renewable energy process will add new jobs while at the same time improving the safety of our environment,” said Alan Levin, director of the Delaware Economic Development Office. “This commitment ensures that Croda will remain a major contributor to Delaware’s economy for many years to come.”
