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Investors plan to revive mill and create hundreds of jobs

August 28, 2024 | St. Helens, Columbia County, Oregon


This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »

Investors plan to revive mill and create hundreds of jobs
In a recent government meeting, discussions centered around a significant investment opportunity for a local paper mill, which has the potential to revitalize the area economically. A group of investors expressed their commitment to not only purchase the facility but also to operate it, countering previous offers from entities that intended to scrap the site.

The investors outlined ambitious plans for the mill, including the introduction of two types of paper-making technology, which could lead to the creation of over 200 jobs in the long term. Initially, they anticipate generating around 100 jobs once both machines are operational. The investors emphasized their focus on domestic production and the importance of quality employment, pledging to offer competitive wages in line with local standards.

During the meeting, officials praised the project as a \"win-win\" for the community, highlighting the fair purchase price of $7.5 million against an appraisal of $5.15 million. They noted that the appraisal indicated an additional $7.8 million would be needed to make the buildings marketable, underscoring the investors' commitment to restoring the facility.

Concerns were raised about previous foreign interest in the mill, which involved shipping operations overseas. However, the current investors are seen as responsible stewards who aim to bring the mill back to viability, contributing positively to the local economy. The meeting concluded with a strong sense of optimism regarding the project's potential impact on the community's future.

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Scribe from Workplace AI
Scribe from Workplace AI