Maine’s Pleasant River Lumber Awarded Grant; Will Expand Two Sawmills
The Maine Technology Institute (MTI) recently awarded a $4,226,000 challenge grant from the Maine Technology Asset Fund 2.0 program to the Pleasant River Lumber Company. The $4.2 million will be used toward a $12 million expansion at Pleasant River Lumber’s mill on the Milo Road and a larger $20 million initiative between the Dover-Foxcroft location and the company’s Moose River Mill in Jackman.
Pleasant River Lumber Co-President Jason Brochu, who runs the locally owned operation and its five facilities across Maine with his brother Co-President Chris Brochu, said they applied to the Maine Technology Asset Fund 2.0 program and recently learned of the awarding of the approximate $4.2 million challenge grant.
MTI approved seven challenge grants totaling a combined $10.9 million in the final funding round. The program is financed by a $45 million bond approved by voters last June that MTI manages on behalf of the state.
“We ended up with $4,226,000 toward the $12 million project,” Jason Brochu said, saying the company is working on a larger $20 million expansion between Dover-Foxcroft and Jackman. He said financing is in place for the rest of the project.
“That was a very competitive process and it was wide ranging,” Brochu said as 18 projects across Maine received grants. “We put together a real good project for the state of Maine. I think we were chosen because it is shovel-ready and has infrastructure that will be here for a very long time.”
From The Piscataquis Observer: observer-me.com.
Latest News
U.S. Softwood Lumber Demand Forecasted To Increase In Next 15 Years
U.S. softwood lumber demand is expected to continue its upward trajectory from the lows of the global financial crisis of 2008-2009, reaching an all-time high by mid 2020s, according to a newly released U.S. Lumber…
Tolko Industries Enters Partnership With Mississippi Sawmill
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Vernon’s Tolko Industries has entered into a 50-50 joint venture partnership with Southeastern Timber Products (STP), a lumber mill in Ackerman, Mississippi. The mill will be known as Southeastern Timber Products…
USFS Announces $8 Million To Expand Wood Products, Wood Energy Markets
The U.S.D.A. Forest Service invites grant applications for projects that expand wood product and wood energy markets, reduce wildfire risk, and improve forest health. Applications will be accepted through Jan. 23, 2019. Grants provided through…
Brexit For Dummies
Article by Jessica Johnson, Associate Editor, Timber Processing November 2018 Here in North America, while we have all heard about the decision of the United Kingdom to exit the European Union dubbed “Brexit,” we aren’t…
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.