Newspaper article Charleston Gazette Mail

WV Timber Companies Receive OK for EDA Loans

Newspaper article Charleston Gazette Mail

WV Timber Companies Receive OK for EDA Loans

Article excerpt

Two companies working in West Virginia's lumber and wood manufacturing industries received preliminary approval for more than $1.19 million in loans. The West Virginia Economic Development Authority voted Thursday to preliminarily approve a $395,000 low- interest loan to Charger Lumber Company in Roane County and a $800,000 government-subsidized loan for Allegheny Dimension, a hardwood manufacturer in Hardy County.

The two loans, which will last for 10 years, are expected to increase employment at both companies.

At Charger Lumber's sawmill, the company is expected to hire two extra employees over the next three years, and at Allegheny Dimension's facility in Moorefield, the company is expected to add 51 employees over the same time period.

The loan for Allegheny Dimension will allow the company to renovate the former American Woodmark building at the Hardy County Industrial Park. …

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