PB Community Impact Fund provided $14 million of New Markets Tax Credit (“NMTC”) allocation to Bienville Lumber Company, LLC (the “Sponsor”) to finance the construction and equipping of a 300,000 square-foot lumber mill facility in rural Bienville Parish, Louisiana.

 

The project was needed to optimize production and meet demand that the Sponsor’s current facility in Urania, LA cannot meet. The Project will be built on an undeveloped 225-acre piece of land and will prioritize buying timber locally. The Sponsor estimates that the Project will purchase approximately 1.3 million tons of wood annually from local suppliers and produce approximately 320 million board feet of lumber annually. The lumber produced will be construction-grade lumber for use in housing and commercial applications. According to an economic analysis performed by the Louisiana Department of Economic Development (LED), this activity will help to support an additional 387 Louisiana jobs in industries such as trucking, logging, and machinery repair.

 

The project received an outpouring of support at the local level with Louisiana Governor John Bel Edwards being quoted as saying “this project is a great economic boost to the northwest part of the state, strategically located to have access to the heart of our historic timber industry, and it will help create hundreds of direct and indirect jobs across the construction, forestry, industrial services, and retail sectors in the town of Taylor and in Bienville Parish.” 

Further, the Sponsor will partner with the LED and will coordinate Louisiana’s nationally recognized LED Fast Start workforce development program to build and train the local workforce in how to operate the project. The Sponsor and the LED Fast Start program will work in coordination with the Bossier Parish Community College (BPPC) to build and equip the local workforce with the skills required for the new state-of-the-art sawmill.

100% of the newly created and retained positions will pay a wage well above Bienville Parish’s per capita income of $21,050 and have access to a benefits package that includes health insurance; retirement plans; company profit sharing plan; and paid sick leave. Additionally, all positions will be accompanied with job training and career advancement opportunities with ongoing training and education provided by BPCC.

 

Additionally, as part of the Project, the Sponsor will participate in the Sustainable Forestry Initiative (SFI) Certified Sourcing Program. The SFI Program ensures that all the wood fiber purchased by this facility comes from sources where responsible forestry practices are used. Compliance is audited annually by a 3rd party certification board.