LINCOLN — A North Carolina company that makes a composite wood material intends to build a factory in Lincoln that would employ about 100 people.
LignaTerra Global LLC says the 300,000-square-foot plant will be built on town-owned land that used to be part of the former Lincoln Paper and Tissue mill.
Lincoln officials plan to sell or lease some of the 76.6-acre site, the Bangor Daily News reported. The operation will be funded by venture capital firms utilizing a new federal tax program thanks to Lincoln’s designation as an Opportunity Zone.
LignaTerra produces cross-laminated timber that’s meant to serve as an alternative construction material to steel and concrete.
The company withdrew a previous plan to build at a former paper mill site in Millinocket because of an unresolved federal tax lien.