ELOY, AZ — A $400 million plastics “upcycling” facility that promises more than 100 jobs, hundreds of construction positions and more than $1 billion in projected economic impact is set to open this year in Eloy.
The project will position the city as Freepoint Eco-Systems’ Southwest hub for advanced recycling. The Connecticut-based company develops large-scale “advanced recycling” plants that turn waste plastic into an oil-like feedstock for petrochemical manufacturers.
During a Feb. 9 work session, representatives from Freepoint Eco-systems walked Eloy City Council through detailed plans for a 44-acre facility in the Eloy Industrial Park that would use high-heat “pyrolysis” to convert hard-to-recycle plastic into an oil-like product sold back to petrochemical companies.
An economic impact analysis presented at the meeting projects more than $1 billion in total regional output and more than $19 million in combined state, county and local tax revenues over 10 years.
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