- Associated Press - Friday, October 10, 2014

OLIVE BRANCH, Miss. (AP) - Innpack, which makes bulk food bags, will move to a new factory in Olive Branch, Mississippi.

The company will spend $2 million to move - buying a building to replace a rented factory in Memphis, Tennessee.

Innpack will move 23 jobs from Memphis to Olive Branch in coming months.

Gov. Phil Bryant and company officials announced the move Friday.

The Mississippi Development Authority provided $100,000 for building improvements and one-time relocation costs. The city of Olive Branch and DeSoto County granted property tax breaks estimated at $750,000 over 10 years.

Mississippi has given money to many businesses to relocate to DeSoto and Marshall counties from Memphis over time.

Based in South Korea, Innpack makes bags from plastic and natural fibers. The company mainly sells to rice producers and marketers.

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