Biomass Continues To Fuel Eastern Oregon’s Economy

A Wallowa biomass specialist will use $3.75 million to expand its facility and create as many as 14 new jobs. Integrated Biomass Resources, a wood products manufacturer, borrowed the money through the BizCapital group, which is the small business lending division of Advantage Capital Partners, and the Oregon New Markets Tax Credit programs. Integrated Biomass […]

A Wallowa biomass specialist will use $3.75 million to expand its facility and create as many as 14 new jobs.

Integrated Biomass Resources, a wood products manufacturer, borrowed the money through the BizCapital group, which is the small business lending division of Advantage Capital Partners, and the Oregon New Markets Tax Credit programs. Integrated Biomass Resources believes the infusion will help it hire between 10 and 14 workers, with another eight construction jobs being needed to expand its facility.

Some sustainability advocates have increasingly begun pushing biomass as a way to create jobs while re-purposing available goods.

The company’s leaders said the funding will be used to achieve the goal “of helping with forest restoration while providing jobs and economic opportunity to rural Oregon.” Integrated Biomass Resources makes several products from wood biomass, including bundled firewood, wood chips and densified heat logs.

The federal and Oregon New Markets Tax Credit programs aim to spark jobs growth and promote retention in communities that are historically underserved by traditional sources of investment capital.

From Sustainable Business Oregon: http://sustainablebusinessoregon.com/articles/2013/08/biomass-continues-to-fuel-eastern.html

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