Maine Pellet Plant To Undergo $7 Million Upgrade, Add Jobs

A local pellet mill will add 18 new jobs as part of a $7 million upgrade aided by state economic development initiatives, officials said Wednesday. The improvements are described as “major work” on the Corinth Pellets Manufacturing LLC facility, which has been in business since 2007. The jobs will be added over the next two […]

A local pellet mill will add 18 new jobs as part of a $7 million upgrade aided by state economic development initiatives, officials said Wednesday.

The improvements are described as “major work” on the Corinth Pellets Manufacturing LLC facility, which has been in business since 2007. The jobs will be added over the next two years, Corinth Pellets Chief Financial Officer Ken Carle said.

“Corinth Pellets is an excellent example of how a staple Maine industry can thrive when provided with the tools to be competitive,” Gov. Paul LePage said in a statement. “Government does not create jobs, but it can create an environment where businesses can thrive. As a result of Corinth Pellets’ investment, more Mainers will be put to work, and our overall economy will prosper.”

“It’s a Pine Tree Zone certification,” Carle said. The designation grants the company a sales-tax exemption for 10 years, among other things, and put the improvements on a much faster timeline, Carle said.

The $7 million self-investment “puts jobs into the local economy, keeps manufacturing in the State of Maine and helps keep the forest products industry rolling,” Carle said. “There are a lot of forest products production facilities that shutting down, scaling back or leaving the state. We’re bucking the trend.”

From The Bangor Daily News: http://bangordailynews.com/2014/03/19/business/corinth-wood-pellets-to-undergo-7m-upgrade-add-18-jobs/

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