New England Forestry

Jackman,
ME
(2005)

New England Forestry

Homeless Services, Homeless Shelter, Manufacturing, Rural, Timber and Agriculture

The wood industry is one of the largest employers in the state of Maine accounting for approximately 19,000 jobs.

Investment

NMTC Amount: $42,850,000
Total Project Cost: $59,000,000

IMPACT

428 FTE jobs
Fees generated were used to support a soy-based adhesive project for OSB and particle board markets

CDEs

Bluehub, Rural Development Partners

Investor

Unknown

Project Description

The wood industry is one of the largest employers in the state of Maine, accounting for approximately 19,000 jobs. A group of investors utilized NMTCs to enhance the credit terms of their forest land purchase, saving 428 jobs for loggers, sawmills, and paper mill workers. Rural Development Partners (allocatee) and GE Capital (lender) also committed fees to further research for a soy-based adhesive project benefiting the wood industry and contributed $2 million to assist inner-city homeless shelters, alcohol, and drug treatment centers, and low-income housing.

MAP

Address: 2933 US Rte 201, Jackman, ME 4945

Census Tract: 23025965301

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