A $120 million project to build two tissue plants in Baileyville was set to begin today, estimated to create hundreds of direct and indirect jobs.
The Maine Department of Economic and Community Development said in a Thursday announcement that St. Croix Tissue Inc. was expected to hold a groundbreaking ceremony Friday that would be attended by Gov. Paul LePage and others.
The DECD said the $120 million investment by Hong Kong-based International Grand Investment Corp., St. Croix Tissue’s parent company, is thought to represent the largest single investment in Maine’s paper industry in decades.
“Clearly the industry is at a crossroads with intense global competition and other challenges,” LePage said in a prepared statement. “My administration is committed to working with all Maine paper mills to become more competitive and realize the full potential of our tremendous assets.”
St. Croix Tissue is expected to make its initial wave of hiring next spring, with its first paper machine beginning operations later that year.
