Tissue recycler brings 85 jobs to Hampton Roads
- July 30, 2012
Tak Investments Inc. is investing $60 million to open a recycled tissue plant in Isle of Wight County that will create 85 new jobs , Gov. Bob McDonnell announced Monday.
“Isle of Wight County is on a positive economic upswing, as this project brings the total jobs the region has gained since 2011 to more than 1,000,” McDonnell said in a statement.
Tak Investments Inc.’s subsidiary, ST Tissue, will recycle waste paper into tissue for napkins and towels using a vacant part of International Paper’s Franklin mill.
The company is using a $200,000 grant from the Governor’s Opportunity Fund and is eligible to receive state benefits from the Virginia Enterprise Zone Program. The Virginia Department of Business Assistance also will provide funding and services to support the company’s recruitment, training and retraining activities.
Headquartered in Gaithersburg, Md., Tak Investments is owned by Washington, D.C.-area entrepreneur Sharad Tak, who got his start in providing computer programming services to the federal government. Tak owns companies in several lines of business, including power generation, engineering and information technology.