I am very happy to see another mill in the northeast bringing jobs back to a tough area of Vermont...
But wondering if this is a wise $9 million for the Feds to loan if the industry is in as tough a shape as some on this site have said (plants closing). Is the industry really ok? Or are Feds out of their mind? I wonder what kind of pricing they used in their business forcasting.
http://www.boston.com/news/local/ve...ood_pellet_plant_gets_9_million_federal_loan/
BURLINGTON, Vt.—U.S. Department of Agriculture Secretary Tom Vilsack says a $9 million federal loan is going toward a new wood pellet plant in Island Pond, creating 34 new jobs in the Northeast Kingdom.
Vilsack made the announcement while attending a dairy town hall meeting with Vermont's congressional delegation in Burlington on Saturday.
The congressional delegation says the USDA is guaranteeing $9 million of the total $10 million federal loan to create a pellet processing plant in the vacant Ethan Allen plant.
The company plans to turn hardwood lumber into pellets that can be burned for heat.
But wondering if this is a wise $9 million for the Feds to loan if the industry is in as tough a shape as some on this site have said (plants closing). Is the industry really ok? Or are Feds out of their mind? I wonder what kind of pricing they used in their business forcasting.
http://www.boston.com/news/local/ve...ood_pellet_plant_gets_9_million_federal_loan/
BURLINGTON, Vt.—U.S. Department of Agriculture Secretary Tom Vilsack says a $9 million federal loan is going toward a new wood pellet plant in Island Pond, creating 34 new jobs in the Northeast Kingdom.
Vilsack made the announcement while attending a dairy town hall meeting with Vermont's congressional delegation in Burlington on Saturday.
The congressional delegation says the USDA is guaranteeing $9 million of the total $10 million federal loan to create a pellet processing plant in the vacant Ethan Allen plant.
The company plans to turn hardwood lumber into pellets that can be burned for heat.