US-based WS Packaging Group is set expand its current business operations in Knoxville by opening a new location in the PBR Building, located at 10215 Caneel Dr.
The company, which will also consolidate its Knoxville facilities to the new location, will invest $43 million in the expansion project and create 231 new jobs.
WS Packaging is considering to complete the shifting of its Knoxville operations to a new facility by mid-July 2014.
WS Packaging CEO Rex Lane said the company provides complex label solutions for branded consumer and business-to-business products for companies across North America.
"This expansion in Knoxville will allow us to meet the changing and growing needs of our customer base," added Lane.
"It also will enable us to leverage a strong business environment, with support from the Tennessee Department of Economic and Community Development, to create additional employment opportunities."