July 24, 2017

Catalyst Paper's project would support 62 new jobs at Rumford mill

British Columbia-based Catalyst Paper Corp. projects that a $56 million investment in a tissue-making machine at its Rumford mill would support 62 full-time jobs.

The Bangor Daily News reported that Catalyst has applied for a $25 million loan through the Finance Authority of Maine's Major Business Expansion program and for $12.7 million in state tax credits or taxpayer cash through the state's New Markets Capital Investment program, to help finance the machine. Catalyst plans to put in $13.9 million of its own money into the project.

The mill currently employs about 640 people making pulp and coated paper, but that market is in decline, the BDN reported.

A customer has been lined up for the tissue paper.


Type your comment here:

Today's Poll Do you agree that putting together graduate programs in law, business and public policy under one roof will have "a transformative impact" on the state's economy?<>
Most Popular on Facebook