By Alabama NewsCenter Staff
Incoa Performance Minerals is investing $110.85 million in a new calcium carbonate facility in Theodore that will employ 74 workers over the next five years.
The company will sell to U.S. markets high-quality calcium carbonate, a product used as a filler in a variety of products from antacids to paint.
With the backing of Partners for Growth investors, the Mobile Area Chamber of Commerce’s economic development team reached out to Incoa representatives to bring the project to Mobile and connected them to the Millard Maritime.
“Mobile and the Gulf region continue to experience strong growth in logistics and transportation,” said Brad Hall, president of Millard Maritime. “Our partnership with Incoa is another important step in expanding that growth.”
Incoa is owned by a Salt Lake City, Utah-based private equity firm, Peterson Partners, and is a startup company. It will locate its processing operations at Millard Maritime, the owner and operator of a port facility on 300 acres in Theodore.
“The value proposition is its central location on the Gulf Coast with good rail, barge and relative distance from a major interstate,” said Tyson Creamer, Incoa’s chief operating officer. “We will provide performance-based minerals that go into the products we use every day – paper, plastic, paints, glass, film wrappers, etc.”
Shelby Glover Zaricor, director of business development at the Mobile chamber, said Incoa will be a valuable addition to the community.
“It’s great when we can connect an economic development project to an existing company with logistical assets in place like at Millard Maritime. Millard’s infrastructure and involvement were key to securing Incoa,” she said. “Incoa will be making a high-demand product that is currently not being manufactured in our region.”