EVANSVILLE —Evansville-based CrossPoint Polymer Technologies was identified Wednesday as the first tenant to occupy space in the former Whirlpool factory.
CrossPoint CEO and President Ben Schmidt said his company turns recycled plastic into pellets for reuse. The company was formed on Aug. 4, 2010, and currently operates out of an office and an off-site warehouse.
But moving into about 110,000 square feet of space in the northwest corner of the former Whirlpool manufacturing facility will allow the company to employ 20 people. After about a year, the payroll roster could increase to 50, Schmidt said.
"And who knows — we hope the company will progress as the years go by," he said.
Also, the area of the plant CrossPoint will occupy once was a laboratory and has high ceilings, which makes it a cost efficient fit.
"There were a lot of cost efficient benefits here," he said.
Officials with the Kunkel Group, which is redeveloping the shuttered manufacturing facility into a multiuse property now known as Park41, said more tenants could be revealed in the coming weeks.
"I'd say we're talking with three or four individuals who also are interested," said Ben Kunkel. "We might be able to release something to you in the next couple weeks."
On April, 1, the Kunkel Group announced it had purchased the property. The group paid $2.9 million for the property on U.S. 41 North and separated it into two parcels. One side is still occupied by Whirlpool's product development center, and that eventually will be separated from the rest of the facility.
Whirlpool also leased back from Kunkel some of the space that Kunkel purchased from the manufacturer. That leased space will provide additional room for the product development center, which employs about 300 people.
In 2010, Whirlpool closed the factory but said it would keep a design center if it were offered a number of incentives by local officials. One of those was a plan to have the city and Evansville Regional Airport buy 105 acres the company owns near the corner of U.S. 41 and St. George Road. The plan also was to buy the buildings on the property near that intersection and turn them into a tech park.
Last month, it was revealed those plans were not accepted by Whirlpool.
Plans approved during an open meeting of the city site review committee Monday revealed the plastics manufacturer would be the first to occupy the space.
Wednesday, Evansville Mayor Jonathan Weinzapfel said the redevelopment of the factory after its closing, which led to the loss of 1,100 jobs, was a sign that the economy and city were on a healthy rebound.
"I think it bears repeating that we have weathered the storm, and the economy in this community is taking back off," Weinzapfel said.