Project Type(s): Manufacturing and Timber, Wood, and Agriculture
Project Year: 2017
NMTC amount: $11,800,000
Total Project Costs: $28,400,000
Since 1990 (and the compounded effects of the global financial crisis), the Southern United States’ wood supply chain has lost 30% of its sawmills and nearly 20% of its pulp mills. With mill capacity shrinking, rural communities that depend on mill demand for labor and other production inputs have suffered dramatically. In the wake of this negative environment, MuniStrategies invested $11.8MM in this Moultrie, GA sawmill upgrade and reconfiguration, as part of an overall $28.4MM expansion. The NMTC financing provided the funds to fully the realize the capabilities of the reconfiguration and upgrades of the sawmill, drying and finishing processes. This investment was critical in strengthening the long-term viability of this 70-year-old mill by increasing production capacity and significantly reducing costs to better weather various market cycles associated with the commodity lumber market.