Community Home » Sustainability » Community Decent Work & Economic Growth Sustainable Cities & Communities Industry, Innovation & Infrastructure Peace, Justice & Strong Institutions Decent Work & Economic Growth Formosa continues to be financially strong with over $4 billion dollars in revenue. We’re moving forward with our business plans and nearing startup of our major expansion project in the coming months. In short, we are committed to doing what it takes to improve all aspects of our operations – personnel, equipment, procedures and our process safety culture. Our management team will accept nothing less than “world class” performance. The plastics industry currently represents the 8th largest manufacturing sector in the U.S., employing 993,000 workers in 2018. There will be thousands of job openings in the U.S. plastics industry in the coming years with average wages that routinely outpace national averages. To help meet that demand, Formosa has created a Training and Development Center to assist local community members and new graduates learn and practice new craft skills. The Center has produced over 250 graduates who have gone on to work in high paying jobs at the Point Comfort, Texas site. +18% Plastics industry wages average 18% higher than the national average. +8.7% Engineering jobs poised to grow 8.7% annually. Leadership Plastics industry wages average 18% higher than the national average and with engineering jobs poised to grow 8.7% annually, Formosa is positioned to attract, train and retain the best talent in the industry. Sustainable Cities & Communities Affordable & Sustainable Housing The lack of affordable housing around the Point Comfort, Texas area was a hindrance for the local school system in recruiting new teachers to the district. When Formosa became aware of this housing issue, the company recognized an opportunity to help solve a problem that impacts the future of the entire community. Formosa met with officials from the local school district and proposed donations of ten company owned houses located in Point Comfort. The housing donation was completed in June, 2020 and all ten houses are already either currently occupied or committed to incoming school district teachers and staff. Recruiting Increase Affordable housing is at the root of strong, stable communities and quality education. Formosa’s contribution to housing has driven increased interest from new teachers and support staff increasing the districts ability to hire and retain quality teachers. New Educators Expressing Interest 36 0 2 0 Vinyl, or PVC is often referred to as the “infrastructure plastic,” and with good reason. 70% Approximately 70 percent of all PVC is used in building and construction applications including siding, flooring, windows, roofing, decking and wall-coverings. Vinyl is used so widely in the construction industry because of its durability, easy installation and cost-effectiveness. Formosa is a member of the Vinyl Sustainability Council (VSC) and one of the first companies to be certified to the +Vantage Vinyl sustainability program through Green Circle, an independent third party registrar. Industry, Innovation, & Infrastructure High Quality Formosa is committed to supplying the highest quality products and services to our customers, providing a safe and healthy workplace for our employees and contributing to the quality of life in the communities where we operate. This commitment is made possible through our dedicated people, consistent products, continued protection of the environment and ongoing investments in new product development, quality control systems and safe, modern and energy-efficient production facilities. Making a great product that lasts for decades, if not longer, reduces the burden on the environment. Learn about our commitment to continuous improvement. Learn More
