Tree Frog Forestry News

Millinocket group ‘turning over every rock’ to eliminate $1.4M tax debt that scuttled factory

By Charles Eichacker
Bangor Daily News
January 10, 2019
Category: Business & Politics
Region: US East, United States

A volunteer economic development group that’s trying to revive Millinocket’s former paper mill site is continuing to challenge a federal tax lien that has hampered its efforts. The lien most recently dissuaded a North Carolina forest products company from launching a $30 million factory on the site. The group, Our Katahdin, filed a third appeal of the $1.4 million tax lien with the Internal Revenue Service last Friday… To help redevelop the mill site, Our Katahdin has secured multiple types of funding totalling more than $8 million …That’s already spiked one large investment at the site. LignaTerra Global LLC of Charlotte, North Carolina, was considering opening a $30 million factory at the Millinocket mill site that would manufacture a composite wood product for use in construction and cross-laminated timber, and employ more than 100 people. But late last year, the group decided against launching the project in Millinocket because of the lien.

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