Michigan Community Capital provided an $8 million New Markets Tax Credit investment to support UP Paper making necessary equipment upgrades and securing permanent ownership of its facilities in 2019. The investment provided needed assistance to increase UP Paper’s revenues and remain competitive in recycled kraft paper industry.rProject elements include: Purchase of real estate and equipment that UP Paper had been leasing from the prior owners of the facility as a temporary measure during the initial phase of the plant’s re-launch. At least $2.9-million of additional equipment investment for a Centrifugal Cleaner and a Low-Consistency Refiner. Retirement of a high-cost credit facility and new line of credit from a partnership bank. The facility retained 97 full-time employees, which would have been lost had the mill failed to stay current with industry innovation. UP Paper also added 8 new full-time employees. All positions pay an average wage of $22 per hour - 2x the living wage, and offer benefits, including health, dental, and vision insurance as well as prescription coverage. UP Paper hiring prioritizes sourcing individuals from the surrounding area. 91% of their positions are accessible with less than a four-year degree, which is important in a county where only 15.2% of people age 25 and older have a bachelor’s degree or higher. 15.7 percentage points lower than the national average. Additionally, UP Paper recruits from disadvantaged and hard-to-employ populations by sourcing employees exclusively through the local office of Michigan Works!
