VALPARAISO, Ind. (AP) _ A paper and packaging company plans to locate a new paper-recycling plant in northwestern Indiana, creating up to 137 new jobs by 2018.
 
The Indiana Economic Development Corp. said Tuesday that Pratt Industries will invest $260 million to build the recycling plant next to its existing box-making plant in Valparaiso.
 
At full capacity, the new mill is expected to produce 360,000 tons of recycled paper each year.
 
The IEDC offered Pratt up to $1.2 million in conditional tax credits and up to $200,000 in training grants based on job creation. Northern Indiana Public Service Co. offered $15 million in energy and infrastructure incentives, and the city of Valparaiso will consider tax abatement.
 
Conyers, Ga.-based Pratt currently employs more than 320 workers in Valparaiso, located about 15 miles southeast of Gary.