Louisiana Pacific Corporation (LP) recently completed a $7.05 million expansion in Two Harbors, Minn., where the company has manufactured siding since 1985. The project entailed a comprehensive rebuild of the existing press at the plant, adding two flights to the press. As a result of the expansion, LP significantly increased its resource utilization from approximately 80,000 cords of wood annually to approximately 100,000 cords annually, while decreasing plant production costs. The investment and expansion should help create new jobs, retain 112 jobs and result in increased activity in the logging and transportation industries.
Iron Range Resources and Rehabilitation Board (IRRRB) supported the expansion with a $2 million loan.
“The LP expansion is great news for the logging industry,” said IRRRB Commissioner Tony Sertich. “This expansion not only keeps quality jobs at the Two Harbors plant, but the investment also helps support logger's jobs.”
IRRRB is a state economic development agency headquartered in northeastern Minnesota whose mission is to promote and invest in business, community and workforce development for the betterment of northeastern Minnesota.