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House committee hears amendment and discussion on tax credit for $1 billion Green Bay Packaging expansion
Summary
Representatives heard a presentation on House Bill 16‑57, which would expand and modify a tax credit tied to a proposed $1 billion investment by Green Bay Packaging in its Arkansas mill. The committee adopted an amendment to add cosponsors; the transcript does not show a final committee vote on the bill itself.
Representative Beck presented House Bill 16‑57 to the Revenue & Taxation Committee, describing an amended proposal tied to a $1,000,000,000 investment by Green Bay Packaging in its 60‑year‑old mill in Morrilton.
Beck said the 2021 law granted a 30% tax credit for a $50 million project; the updated proposal would authorize a $1 billion qualifying project and lower the credit rate to 20%, which Beck characterized as “about $5,000,000 per year for 10 years.” He said the project is expected to retain about 700 existing jobs across roughly 14 counties, add roughly 30–40 permanent positions averaging $100,000 annually, and employ about 1,000 contractors during an estimated two‑year construction phase. Beck said the project will use wood byproducts, including bark, in a biomass boiler to produce steam and generate electricity and noted coordination with county officials and the Arkansas Department of Transportation (ARDOT) to relocate a highway for the expansion.
