VOL. 127 | NO. 213 | Wednesday, October 31, 2012
International Paper Confirms Site Search Under Way
By Bill Dries
Memphis-based International Paper Co. is looking to expand its headquarters but isn’t saying much about the process beyond that.
The global company has expansion plans as it integrates Temple-Inland, an Austin, Texas-based competitor the paper and packaging giant acquired earlier this year.
As that integration has been under way International Paper CEO John Faraci has said it could mean more jobs in Memphis and most likely won’t mean Memphis jobs moving to Texas.
But most companies considering such an expansion also look at other cities. And those other cities can offer incentives, just as Memphis did to win the relocation of International Paper’s global headquarters to the city in 1986.
International Paper isn’t confirming it is looking at other cities and incentives those communities could be offering, as well as Memphis might offer.
“We are not ready to go into detail about the evaluation process at this time, nor what those options are,” reads an International Paper statement sent to The Daily News. “We can say that this is a necessary and important step as we plan for International Paper’s future.”