B.C. Lumber Company Declares Huge Investment in U.S. Mills

SEATTLE (Scrap Monster):  British Colombia-headquartered Teal-Jones Group announced plans to invest $31.75 in expanding operations at two lumber mills in Virginia, U.S. that it acquired recently. The investment aims to expand sawmill and dry kiln operations at the mills.

According to new release by the company, it will invest $10.75 million at Potomac Supply, LLC in Kinsale, Westmoreland County, which will create 59 new jobs. Also, the planned investment of $21 million at Pine Products Inc. in Martinsville, Henry County is expected to generate 67 new job opportunities.

These investments will be used to facilitate new equipment purchases and updates to the facilities. Consequently, Teal-Jones expects to nearly triple its lumber production from Henry and Westmoreland counties.

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Gov. Ralph Northam has already given approval for grants of $125,000 each from the COF and the AFID Fund to help Westmoreland County grab the project. Also Henry County will get assistance in the form of grants of $200,000 each from the commonwealth’s Opportunity Fund and the Governor’s Agriculture and Forestry Industries Development Fund.

Furthermore, Teal-Jones will receive sales and use tax exemptions on manufacturing equipment, in addition to funding and services from the Virginia Jobs Investment Program for its job creation efforts.

Dick Jones, Teal-Jones Group President and CEO thanked Gov. Northam, the commonwealth and Henry and Westmoreland counties and reiterated its commitment to establish itself in Virginia.