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
First Southeast U.S. CLT Plant Announced
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); International Beams plans to build the first cross-laminated timber production facility in the Southeastern U.S. in Dothan, Ala. A 227,000 square foot facility, a vacated GE plant, will be the manufacturing…
Mass Timber Gets The Nod For University Of Idaho’s New Basketball Arena
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); The momentum for mass timber continues to gain strength and speed, with last week’s announcement that the University of Idaho will build its new $30 million basketball arena from wood. Why?…
CalAg Rice MDF Plant Is A Go
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); The CalAg rice straw-based medium density fiberboard plant is becoming a reality. CalPlant I, as it is called, has completed and closed financing for a $315 million plant to be built…
U.S. Lumber Coalition Objects To Canada Subsidizing
The U.S. Lumber Coalition, a trade group that had been rallying against the extension of the Softwood Lumber Agreement with Canada, came out as expected against the Canadian government’s plan to spend C$867-million in subsidies…
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.