The Arkansas Economic Development Commission has approved $5 million in financing to aid a timber company in the proposed purchase of an abandoned plant in Union County.
The commission approved the financing this week for Southeastern Timber Products El Dorado LLC. Its parent company, Southeastern Timber, has expressed an interest in renovating a sawmill formerly used by Georgia-Pacific.
The Arkansas Democrat-Gazette reports that the total cost of the project is $25 million and that up to 125 jobs could be created in El Dorado and Union County.
Officials say the deal is not yet complete but that the financial incentives help move it forward.
Georgia-Pacific closed the plant outside El Dorado in 2008.
From The Washington Times: http://www.washingtontimes.com/news/2014/apr/11/financing-okd-for-proposed-union-county-project/