IP executives tight lipped about expansion plans - Action News 5 - Memphis, Tennessee

IP executives tight lipped about expansion plans

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MEMPHIS, TN -

(WMC-TV) - One of the top employers in Memphis since 1987, International Paper said it needs more space.

International Paper executives are extremely tight lipped about their plans but did confirm that they are evaluating their options for additional space.

According to the Commercial Appeal, the paper giant is seeking to construct a new building in Memphis but is weighing its tax incentives in Mississippi. Unable to comment on specifics, International Paper released this statement saying:

"We are not ready to go into detail about the evaluation process at this time, nor what those options are. We can say that this is a necessary and important step as we plan for International Paper's future."

Memphis Mayor A C Wharton who has been very vocal about the city's retention of private businesses for years.

"Find me any place in the world that has ever grown, that just sat back and said, ‘that's a private business and we can't help them' they got choices. They can move. I can't move Memphis.  I can't pick up this city and say I'll go out to the Sun Belt somewhere where they will want us. We've got to tell people like that to shut up," he said.

In addition to retaining more than 2,000 jobs in Memphis the project would bring another 100 high-paying jobs to the city if International Paper decides to stay put.

International Paper currently occupies more than 450,000 square feet at their headquarters at the corner of Poplar Ave and Massey.

It's not uncommon for Fortune 500 companies like International Paper to seek expansion with economic benefits.

 

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