International Paper commits $90M to Pensacola mill

International Paper plans to invest $90 million over the next five years to increase energy efficiency and enhance its Pensacola Containerboard Mill, a news release from International Paper said.

The Pensacola operation, which is located on County Road 184 in Cantonment, employs more than 400 people and is part of the company's industrial packaging group.

The mill has been in the Pensacola area since 1941 and was acquired by International Paper in 2000, the release said.

"Northwest Florida's business-friendly environment and initiatives continue to attract strong, innovative businesses," Florida Senate President Don Gaetz said in the release. "Just last year, International Paper's Pensacola Mill had a local economic impact of nearly $330 million. I am confident this multi-year investment will continue to help our communities thrive and our region's economy to grow."

International Paper's commitment to Escambia County will also be supported by approximately $5 million in grants and infrastructure improvements, according to the release.

"The Escambia County Board of Commissioners supports fostering the growth of our existing industry base," Escambia County Commissioner Steven Barry said in the release. "The Board's commitment of tax incentives and investments in county-wide infrastructure, such as the proposed project at Muscogee Road and US-29, not only serves the logistic needs of one of our most established local companies, but it also benefits IP's more than 400 employees and the citizens of Escambia County."