Avery Dennison expansion reflects partnership with Mount Prospect
A Fortune 500 company has picked Mount Prospect as the hub for its production of reflective sheeting used in signs that make our roads safer.
Avery Dennison recently completed the 21,427-square-foot expansion of its Reflective Solutions division at 902 Feehanville Drive in the Kensington Business Center.
Headquartered in Mentor, Ohio, Avery Dennison is a global materials science and manufacturing company that employs 36,000 workers in more than 50 countries and six continents. Reported sales in 2022 were $9 billion. Its Fortune 500 rank was 412.
The Reflective Solutions division in Mount Prospect makes the reflective sheeting you see at night on traffic signs and high-visibility clothing so they can be spotted by approaching headlights.
The company, which has been in Mount Prospect for more than 40 years and had been leasing the building, bought it in 2021 for $6.85 million.
The addition, which includes 11,576 square feet of manufacturing and warehouse space and 9,851 square feet of office space, reflects the partnership between the Mount Prospect and Avery Dennison. The village in November 2021 recommended a Class 6b property tax incentive, a Cook County program designed to reduce taxes on new and rehabbed industrial buildings for 15 years.
Sandeep Kottarath, director of process and engineering technology for Reflective Solutions, said the incentive enables Avery Dennison to save nearly $1 million over the next decade.
"We have set the next stage for the journey of our business, positioning the business to explore new technologies that will enable us to elevate our competitive positioning to new heights," said Jeroen Diderich, vice president and general manager, Label and Graphic Materials - North America.
"(The expansion) represents an investment in community," he added. "We have (had) a strong presence in Mount Prospect for nearly 30 years."
Mount Prospect Mayor Paul Hoefert called the Kensington Business Center one of the crown jewels of the village's business community.
"Just as (Avery Dennison has) a deep history going back to 1935, so do we have a very deep history going back to 1917, the year of our incorporation," he said. "We are adding to that local history of Mount Prospect by dedicating this exceptional, newly renovated building."