Emerald Forest Products in Emmett, Idaho has closed its lumber operation and laid off 50 people. The owner is looking for a buyer.
The company, which began in 2010 with help $4 million in federal economic-stimulus money, was undercapitalized, said Dick Vinson, who ran the mill and owned it with partners. He said he put $1.8 million into the mill in the last 18 months trying to save it, but couldn’t make it work.
Employees were not paid Friday, their regular payday. Vinson said their checks would be available after 3 p.m. Wednesday at the plant.
Vinson said one company has already come to the mill to consider buying it. He said another company is expected to be there on Thursday. He would not say who the companies are.
Vinson opened the mill on 22 acres that had once been part of the site of a Boise Cascade sawmill that closed.
From The Idaho Statesman: http://www.idahostatesman.com/2013/02/18/2457429/stimulus-funded-lumber-mill-closes.html