St. Louis’s economic development arm has committed $5 million in federal new markets tax credits to assist a new manufacturer that makes railroad ties out of recycled plastic.

The St. Louis Development Corp. voted Thursday to award the incentive to Evertrak, a manufacturer based out of a 30,000-square-foot facility on Vandeventer Avenue in the Forest Park Southeast neighborhood. Evertrak buys most of its material from Re-Poly, and both firms count Tim Noonan as a key investor.

Evertrak President Matt Moore said the company aims to “disrupt the wood tie industry.” Though the recycled plastic ties are more expensive, he said the value proposition is that they hold up better in the hot humid areas of the country and last longer.

Evertrak plans to hire an additional 22 people in the next two years and quadruple production to 80,000 ties by 2021, SLDC new markets tax credit program director Bill Seddon said. Evertrak gives the city an opportunity to add a manufacturer to its portfolio of new markets tax credit investments. Out of 70 new markets transactions over the years, the city has only worked with manufacturers in four or five of those deals, Seddon said.