Governor Jim Doyle today announced that Flambeau River Papers, LLC of Park Falls has received a $2 million loan from the Department of Commerce to reopen and operate the former Smart Papers Mill. The award was approved at the Wisconsin Development Finance Board meeting held today in Madison.
“This is great news for Park Falls, northern Wisconsin, and particularly the hardworking families who will once again have good, family-supporting jobs in this area,” Governor Doyle said. “This is a great example of the public and private sector coming together for the good of the community, and I commend Butch Johnson and his partners for their investment in Park Falls.”
Flambeau River Papers, LLC, will use the loan for the purchase of the facility and equipment and for working capital. The company expects to rehire 300 former Smart Papers workers when the mill is fully operational. The total project cost is $22.7 million. The company and the City of Park Falls are also completing an application for a $2 million Community Development Block Grant program loan.
“My Affordability Agenda focuses on providing good jobs for hardworking families all across Wisconsin,” Governor Doyle said. “I am pleased that we could help Flambeau River Papers reopen this mill and provide jobs and economic benefit to northern Wisconsin.”
The mill is a critical purchaser of wood throughout northern Wisconsin, buying 140,000 cords of wood per year. Flambeau River Papers, LLC, estimates that reopening the mill will support an additional 300 small logging businesses in the region and strengthen prices in Wisconsin’s logging industry. The mill buys lumber harvested under sustainable forestry practices.
For more information on Department of Commerce programs and services, contact the Commerce area development manager at www.commerce.wi.gov/MT/MT-FAX-0901.html
