The U.S. Department of Agriculture announced that it will guarantee $115.2 million across eight states to ensure sawmills and other wood processing facilities have the necessary funding to establish, reopen, expand, or improve operations. The Timber Production Expansion Guaranteed Loan Program will also fund projects to improve forest health.
  
At the Advanced Bioeconomy Leadership Conference, U.S. Department of Agriculture Administrator for the Rural Business and Cooperative Service J.R. Claeys announced the USDA is guaranteeing $115.2 million across eight states through the Timber Production Expansion Guaranteed Loan Program (TPEP) to ensure sawmills and other wood processing facilities have the necessary funding to establish, reopen, expand, or improve their operations. Recipients operate in the states of California, Idaho, Kansas, Louisiana, Maine, Oklahoma, Virginia and Wisconsin.
A selection of project highlights from states receiving funding include:

-- $12.3 million loan to Beachcombers, LLC in Oklahoma to acquire two Teal-Jones southern yellow pine sawmills, located in Antlers, Okla., and Liberty, Miss. The first phase of the project is to restore the Antlers mill facility back to full operation, projecting an annualized production of 80 MMBF. The second phase will bring the Liberty mill facility back on-line. The Antlers mill has a production capacity of 130 MMBF, while the Liberty mill has a capacity of 25 MMBF.

-- $800,000 loan to Timber Professionals Cooperative Enterprises in Wisconsin to assist in reopening a sawmill in Shawano County, Wis. Timber Professionals Cooperative Enterprises will use guaranteed loan funds to purchase over 49 acres of real estate and equipment. The equipment will allow them to improve the efficiency of manufacturing wood chips.

“The value of National Forest Systems lands is demonstrated by providing various forest products, such as timber, lumber, paper, bioenergy, and other wood products,” says U.S. Forest Service Chief Tom Schultz. “The American forest products industry is critical to maintaining the health of the nation’s forests. The Timber Production and Expansion Guaranteed Loan Program is one of many ways the Forest Service partners with the timber industry to maintain rural jobs, processing facilities, and an outlet for wood that needs to be removed from national forests.”

Source: woodandpanel.us