$80 Million Investment In Arkansas Sawmill To Create 120 Jobs
A Canadian timber company will invest $80 million in an El Dorado sawmill, creating 120 new jobs, the Arkansas Economic Development Commission said in a statement.
Conifex Timber will create a “state-of-the-art” sawmill at a site previously owned by Georgia-Pacific, the statement said, noting Gov. Asa Hutchinson and company officials formally announced the new jobs at an event in El Dorado on Monday morning.
“Timber plays a vital role in our state’s economic vitality,” Hutchinson said in the statement. “The industry directly employs more than 37,200 workers in Arkansas, and I’m thrilled to welcome Conifex to the state.”
The state provided several incentives to Conifex, including one $1 million grant initially and the chance in 10 months for a second grant, also worth $1 million, if the jobs are added as planned.
Conifex plans to initially produce 180 million board feet from the mill, the statement said, noting the firm will purchase an estimated 700,000 tons of sawtimber — or $30 million worth — from suppliers within about 60 miles.
From Arkansas Online: arkansasonline.com.
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