Major expansion of Ashland Sawmill announced
Irving Forest Products, a subsidiary of J.D. Irving, Limited, is modernizing and expanding its Ashland Sawmill in Maine, doubling annual lumber production capacity from 130 million to 250 million board feet while creating or retaining the equivalent of 220 permanent full-time jobs. The project is backed by $112.9 million of combined federal New Markets Tax Credit and Maine New Markets Capital Investment allocations spread across seven Community Development Entities, which are expected to generate roughly $44 million in tax credits.
Key figures
- Cde count
- 7
- Jobs created retained
- 220
- Lumber capacity after
- 250 million board feet annually
- Tax credits generated
- $44 million
- Lumber capacity before
- 130 million board feet annually
- Td cdc nmtc allocation
- $10 million
- Combined tax credit allocations
- $112.9 million
- Td cdc nmtc investments supported
- $49 million
AI analysis
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