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January 30, 2017

Conifex commits $80 million
and adds 120 new jobs to
re-start El Dorado sawmill

Conifex Timer Inc. is modernizing and re-opening a sawmill complex in El Dorado, Arkansas.
Conifex is a forestry and sawmilling company headquartered in Vancouver, Canada.
The company’s investment will make this one of the most state-of-the-art mills in the world.
Conifex is primarily engaged in the manufacture of structural grade Spruce Pine Fir dimension lumber.
This will be Conifex’s first facility in Arkansas and first in the Southern US.
The El Dorado mill will provide Conifex with access to lumber and timer markets in the U.S. South.
Sawtimber purchases are expected to amount to 700,000 tons per year, or $30 million, from suppliers within an approximate 60-mile radius.

Community Development Block Grant (CDBG) funds - A $1 million grant will be provided initially and followed up by a second $1 million grant after 10 months if job creation targets are reached.
Create Rebate - provides a cash rebate equal to 4.5% of total payroll (associated with the new jobs created) for six years (capped at $1.5 million in total rebates).
Tax Back - provides sales tax refunds on building materials, taxable machinery and equipment associated with the project.

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Arkansas' Growth in Forest & Timber Products

Since January 2015, AEDC has signed incentive agreements for 29 forest products companies at 17 locations resulting in total proposed investments of more than $2 billion and the creation of 214 jobs.
The Timber and Paper Products industry in Arkansas employs almost 70,000 employees through direct and indirect jobs.
The industry’s annual payroll in Arkansas is more than $1.4 billion.
Estimated state and local taxes paid by the industry total approximately $115 million.

Governor Asa Hutchinson speaks at the Conifex announcement in El Dorado on Jan. 30, 2017.

LEFT: Conifex CEO Ken Shields
ABOVE: The Conifex facility in El Dorado, Arkansas