J.D. Irving doubles Ashland sawmill capacity to 250 million board feet
Irving Forest Products, a subsidiary of J.D. Irving, is expanding its Ashland Sawmill in Maine to double annual lumber production capacity from 130 million to 250 million board feet. The USD 112.9m modernisation is backed by federal and Maine New Markets Tax Credit programmes and is expected to create or retain 220 permanent jobs.
Why this mattersAn extra 120 million board feet a year enlarges a North American softwood lumber source and deepens J.D. Irving's integrated position in Maine.
- Irving Forest Products, a J.D. Irving subsidiary, is modernising its Ashland Sawmill in Nashville Plantation, Maine.
- Annual lumber production capacity will double from 130 million to 250 million board feet.
- The project is expected to create and retain 220 permanent full-time jobs.
- Financing includes USD 112.9m of combined federal New Markets Tax Credit and Maine New Markets Capital Investment Program allocations.
- The tax credit allocations were placed via seven Community Development Entities including TD Community Development Corporation and Mascoma Community Development.
- TD Community Development Corporation provided USD 10m in NMTC allocation and supported USD 49m of NMTC investments for the project.