Major expansion of Ashland Sawmill announced
TD Community Development Corporation provided a $10 million New Markets Tax Credit allocation and supported $49 million in NMTC investments, including federal and state investments and bridge equity, for the Ashland Sawmill modernization project in Maine. The project, led by Irving Forest Products, a subsidiary of J.D. Irving, Limited, will double annual lumber production capacity from 130 million to 250 million board feet and create or retain the equivalent of 220 permanent, full-time jobs.
Key figures
- Cde count
- 7
- Lumber capacity after
- 250 million board feet
- Tax credits generated
- $44 million
- Lumber capacity before
- 130 million board feet
- Td cdc nmtc allocation
- $10 million
- Jobs created or retained
- 220
- Total tax credit allocations
- $112.9 million
- Td cdc supported nmtc investments
- $49 million
AI analysis
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