Berry Plastics in Franklin received $10 million Tuesday in state tax incentives to help retain 460 jobs.

The company, which opened in 1957 and manufactures tape products, plans to invest about $20 million in equipment and building improvements at the Franklin plant, according to a news release.

The company received the incentives under the Kentucky Industrial Revitalization Act, which helps state manufacturing or agribusiness companies that are in danger of permanently closing or have closed temporarily, according to the release.

Also, at least 25 jobs must be created or maintained with KIRA funds.

This year, officials have given more than $22 million in KIRA incentives to three companies, including Berry Plastics, according to Mandy Lambert, director of marketing and communications for the Kentucky Cabinet for Economic Development.