NC company plans to create 100 jobs in Lincoln
LINCOLN, Maine (AP) — A North Carolina company that makes a composite wood material intends to build a factory in Lincoln that would employ about 100 people.
LignaTerra Global LLC says the 300,000-square-foot plant will be built on town-owned land that used to be part of the former Lincoln Paper and Tissue mill.
The Bangor Daily News reports that Lincoln officials plan to sell or lease some of the 76.6-acre site. The operation will be funded by venture capital firms utilizing a new federal tax program thanks to Lincoln’s designation as an Opportunity Zone.
LignaTerra produces cross-laminated timber that’s meant to serve as an alternative construction material to steel and concrete.
The company withdrew a previous plan to build at a former paper mill site in Millinocket because of an unresolved federal tax lien.
Information from: Bangor Daily News, http://www.bangordailynews.com