Impact Innovations: Wrapping paper manufacturer expanding

A new agreement with one of its largest customers will result in Impact Innovations Inc. expanding its Memphis facility. The Minnesota-based company acquired the wrapping paper division of Cleo Inc. in 2011 and is now seeking a three year payment-in-lieu-of-taxes incentive for a planned $7.3 million expansion. The investment will focus on new machinery and equipment, including two new printing presses, and is expected to create 18 new jobs. Impact Innovations currently employs 29 people locally. The…