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Timber company to expand in Southwest Virginia

July 7, 2018

DUNGANNON, Va. (AP) — A timber company is planning to spend nearly $4 million in Virginia’s economically depressed far southwest after receiving promises of significant state aid.

Gov. Ralph Northam announced Friday that Mountain Top Timber Products plans to spend $3.8 million on reviving an abandoned industrial building in Scott County for wood chipping and saw mill operations.

The company said it will spend $14 million buying Virginia lumber and create 50 new jobs.

Northam approved a $260,000 grant, which Scott County will match with local funds. The Virginia Coalfield Economic Development Authority approved a $1 million loan to the county’s economic development authority to help with the project.

The state’ tobacco commission has also approved a $125,000 grant and a $125,000 loan for the project.

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