The sale of the former Louisiana Pacific plant in Center to Atlantic Wood Pellets is a step closer following action by the Jackson County Industrial Development Authority last week.
The IDA approved bond financing for the $110 million project and agreed on a five-year phased-in property tax abatement schedule.
IDA attorney Daniel Haygood said the bonds should close in the first week of December. He added that most of the company’s investment will take place in the first year, but some of it will come in the second and third years.
“Well, I think that’s good news for everyone,” declared chairman Scott Martin.