Insulation and absorbents manufacturer IQ Fibers plans to invest $5.4 million to return to its original home of Pennsylvania, local economic development officials announced last week.
The Lehigh Valley Economic Development Corp. said the facility in West Easton is expected to create 43 new jobs and allow the company to expand its presence to the northeastern U.S. IQ Fibers was formed 10 years ago as startup FiberAmerica in nearby Allentown, Pennsylvania, but moved to Indiana following its acquisition in 2014.
IQ produces cellulose insulation made from up to 85% recycled paper fiber and cellulose absorbents that offer the ability to harvest the hydrocarbons absorbed from oil spills.
IQ Fibers CEO George Day said increasing demand for environmentally friendly products prompted the company’s decision to expand.
“We believe this is the right time and place to launch our company,” Day said in the announcement.
The project is eligible for an $86,000 state grant and $86,000 in tax benefits should it meet its job creation goals. Pennsylvania officials also offered a workforce training grant and encouraged the company to apply for a low-interest state loan totaling $400,000.
“We’re very pleased that IQ Fibers has decided to establish its first Pennsylvania manufacturing operation here in the Lehigh Valley, where manufacturing is alive and well,” added LVEDC President and CEO Don Cunningham.
The company plans to lease a 45,000-square-foot building in West Eaton for five years; it will have the option to extend the lease for two additional five-year terms.
