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VOL. 127 | NO. 213 | Wednesday, October 31, 2012

International Paper Confirms Site Search Under Way

By Bill Dries

Print | Front Page | Email this story | Email reporter | Comments ()

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.”

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 41 186 2,521
MORTGAGES 50 198 3,092
FORECLOSURE NOTICES 0 24 501
BUILDING PERMITS 128 438 5,441
BANKRUPTCIES 62 149 1,928
BUSINESS LICENSES 32 72 968
UTILITY CONNECTIONS 16 68 1,080
MARRIAGE LICENSES 16 37 380

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