(MENAFN- GlobeNewsWire - Nasdaq) LITTLE ROCK, Ark., Nov. 18, 2024 (GLOBE NEWSWIRE) -- Weyerhaeuser Company, one of the world's largest private owners of timberlands, has announced an estimated $500 million investment to build a new, state-of-the-art TimberStrand® facility near Monticello and Warren, Arkansas. This investment is expected to create 200 high-quality jobs in the south Arkansas region.
“This $500 million investment and 200 new jobs are pivotal for towns like Monticello and Warren,” said Governor Sanders .“I was at the University of Arkansas at Monticello last month to break ground on a new Forest Research Center my administration helped fund by directing $16 million to the school. Between Weyerhaeuser's announcement and UAM's expansion, we're growing that portion of the state and investing in Arkansas' forestry industry for generations to come.”
The new facility will expand Weyerhaeuser's engineered wood products capacity, adding approximately 10 million cubic feet of annual production capacity. Using southern yellow pine as the primary feedstock, Weyerhaeuser will manufacture TimberStrand®, a laminated strand lumber, at the Arkansas facility and will use a biomass-fueled cogeneration system to fully supply the plant's electrical needs.
“This is an exciting opportunity to grow our EWP business, expand TimberStrand® into the U.S. South and provide an additional outlet for our fiber logs in Arkansas,” said Devin W. Stockfish, president and chief executive officer, in the company's release .“Of the wood products we produce, EWP has the strongest tie to single-family housing construction activity, and this new facility aligns with our conviction that U.S. housing demand will remain favorable over the long term. In addition, this plant will allow Weyerhaeuser to better serve other customers and end markets in the region, including mass timber applications, and it supports our broader sustainability ambitions. I'd like to thank the state of Arkansas and local officials for working with Weyerhaeuser to site this facility. We look forward to building on our long history in the state and providing new employment opportunities in the Monticello community.”
This is Weyerhaeuser's third manufacturing facility in Arkansas, in addition to a lumber mill in Dierks and a plywood and veneer plant in Emerson, as well as a seedling nursery and multiple offices. Weyerhaeuser currently employs more than 700 individuals across Arkansas.
“Weyerhaeuser's $500 million investment is an incredible milestone in Arkansas's rural economic development momentum,” said Clint O'Neal, executive director of the Arkansas Economic Development Commission .“This project will be transformational for Southeast Arkansas, strengthening our state's timber industry and creating 200 new jobs. We are grateful for Weyerhaeuser's commitment to Arkansas, and we congratulate the local leadership for their hard work in securing this major economic development project.”
Weyerhaeuser plans to source most of its fiber log requirements from company-owned timberlands in the south Arkansas region. The company owns approximately 1.2 million acres of timberlands in the area.
Construction on the facility is expected to begin in 2025 with operations planned to start in late 2027.
Local Quotes
“The City of Monticello is proud of its contributions to this project and the work of all the City, County and State entities that came together to make this happen for our people,” said Monticello Mayor Jason Akers .“This is what happens when people work together for the greater good.”
“On behalf of the City of Warren, I express our pleasure and excitement relating to the announcement of a major new manufacturing facility to be located in our Regional Intermodal complex,” said Warren Mayor Gregg Reep .“A lot of work has gone into bringing this project to fruition. It will mean jobs and economic growth to both cities and counties along with the entire Southeast Arkansas region. The taxpayers of Warren, Monticello, Bradley and Drew counties are to be thanked for helping to make this happen. We look forward to a bright future with new job opportunities.”
“Having had the honor of serving Bradley and Drew Counties for 15 years as State Representative, this announcement of $500 million in a new manufacturing facility creating jobs for our people is most rewarding,” said Arkansas State Representative Jeff Wardlaw. “It is a great pleasure to witness how our regional efforts have worked to secure a sound future for generations to come.”
“I would like to thank all the people involved with this project who have been dedicated from start to finish in seeing this great opportunity for Drew County,” said Drew County Judge Jessie Griffin .“The new jobs that will be created will help to grow and strengthen our County, City and Southeast Arkansas. We look forward to welcoming new families to our area.”
“It has been a pleasure working alongside the Southeast Arkansas Regional Intermodal Authority, comprised of Bradley & Drew Counties and the cities of Monticello & Warren, and the Arkansas Economic Development Commission to locate this project for the company,” said Nita McDaniel, Executive Director of the Monticello Economic Development Commission, Inc .“This announcement gives evidence that our regional efforts have been well placed. I value greatly the confidence which Weyerhaeuser has placed in our communities and in our people through this investment and job creation.”
“We welcome this new facility to southeast Arkansas,” said John Lipton, President of the Southeast Arkansas Regional Intermodal Authority. “This shows what the working relationship between Bradley and Drew Counties and the cities of Monticello and Warren can achieve through the Southeast Arkansas Regional Intermodal Authority. We look forward to the new jobs and the utilization of our natural resources being created.”
About the Arkansas Economic Development Commission
At AEDC, we know economic advancement doesn't happen by accident. We work strategically with businesses and communities to create strong economic opportunities, making Arkansas the natural choice for success. AEDC is a division of the Arkansas Department of Commerce. To learn more, visit ArkansasEDC.com.
Media Contact:
Tyler Hale
Arkansas Department of Commerce
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