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CANFOR To Construct State Of The Art $160 Million Lumber Mill Near DeRidder, Louisiana

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“Agribusiness remains one of our key industries for growing Louisiana’s economy, and our state offers unique advantages that attracted Canfor here,” said Governor John BelEdwards, State of Louisiana. “This major new manufacturing project can resonate across the region’s economy in a variety of ways. We welcome plans for this foreign direct investment in Louisiana by this industry leader, and we look forward to the good jobs this project is expected to create in Beauregard Parish for the region’s skilled workforce.”

Lumber Mill to be located on approved LED Certified Site at the Beauregard Regional Airport

BEAUREGARD PARISH, LOUISIANA- Gov. John Bel Edwards and Canfor Corp. President and CEO Don Kayne announced today that the company has chosen Beauregard Parish, Louisiana, as the location for the final engineering and feasibility studies for a $160 million state-of-the-art lumber mill. Canfor is headquartered in British Columbia, Canada, and is one of the largest producers of sustainable lumber, pulp, and paper in the world. The facility would be the company’s first investment in Louisiana.

BEAUREGARD PARISH, LOUISIANA

Canfor would add 130 direct jobs, paying an average annual salary of $59,921 plus benefits. According to Louisiana Economic Development, the project would also generate 386 new indirect jobs, totaling 516 new jobs in Beauregard Parish and the Southwest Region. 175 construction jobs are expected to be created as a result of the sawmill project.

“This project announcement would represent the largest initial investment in Beauregard Parish’s history,” parish Police Jury President Mike Harper said.

Canfor would locate the facility on an LED Certified Site at the Beauregard Regional Airport, near DeRidder. The sawmill would process yellow pine from Louisiana forests, with the manufacturing capacity and flexibility to produce a wide variety of high quality wood products for Canfor’s customers. Start-up is expected to begin late in the third quarter of 2022.

“Canfor is excited to be investing in a new world-class sawmill in Louisiana that will support our growth and diversification in the U.S. South and ensure we continue to deliver high value products to our global customers,” Kayne said. “Canfor selected Louisiana for its first greenfield project in the United States because of the sustainable and high quality fiber supply, the skilled labor force and the long history of wood products manufacturing,” Canfor Southern Pine President Tony Sheffield said. “In addition, the significant incentives and support we are receiving from the State of Louisiana are helping to make this project possible.”

To win the project, the State of Louisiana offered a competitive incentive package that included comprehensive solutions from LED FastStart® – the nation’s No. 1 state workforce development program for the previous 11 years.
Additionally, the package includes a $1.5 million performance-based grant, contingent upon the company meeting specified investment and payroll benchmarks.
If the project proceeds as planned, the company is also expected to benefit significantly from Louisiana’s Quality Jobs and Industrial Tax Exemption programs. “This project announcement would represent the largest initial investment in Beauregard Parish’s history,” parish Police Jury President Mike Harper said.

“This significant project would bring jobs to Beauregard Parish,” said President and CEO George Swift of the Southwest Louisiana Economic Development Alliance. “Importantly, this would be the first industrial project at the Beauregard Regional Airport Certified Site. The future is strong for this property. Also, I want to thank R.B. Smith, vice president of workforce and business development for the SWLA Alliance, who has worked tirelessly with Beauregard officials and the company to make this project happen.”

Given the decision to build a new facility in Louisiana, Canfor will not be proceeding with the greenfield project in Washington,Georgia that was previously announced by Canfor on February 22, 2018.

About Canfor

Canfor is a leading integrated forest products company based in Canada with interests in British Columbia, Alberta, North Carolina, South Carolina, Alabama, Georgia, Mississippi and Arkansas, as well as in Sweden. Canfor produces primarily softwood lumber, and the company’s shares are traded on The Toronto Stock Exchange under the symbol CFP. For more information, visit canfor.com.

About LED

Louisiana Economic Development is responsible for enhancing the state’s business climate and revitalizing the state’s economy. LED creates jobs and economic opportunity for Louisiana residents, as well as promotes business opportunities for businesses of all sizes. LED attracted 58 new economic development projects in 2020, creating over 11,600 new jobs, retaining 8,600 existing jobs, and generating over $12.7 billion in new capital investment. In 2020, LED’s Small Business Services team will assist more than 17,500 Louisiana small businesses and entrepreneurs through a partnership with the Louisiana Small Business Development Center Network. Visit OpportunityLouisiana.com for additional information.

Source CANFOR

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