Precision Hardwoods Invests $12 Million in Onaway

News Summary

Precision Hardwoods has announced a $12 million investment to build a new manufacturing facility in Onaway, promising 18 new jobs in the local community. This investment significantly increases their production capacity from 1.5 million to between 7.5 and 8 million board feet of lumber. Governor Gretchen Whitmer highlights this as a major boost to the local economy, supported by a $130,000 grant from the Michigan strategic fund. The company’s commitment to sustainability ensures responsible operational practices while enhancing local job opportunities and economic stability.

Exciting News for Onaway: Precision Hardwoods is Making Big Moves!

Hey, residents of Onaway! Buckle up because there’s some thrilling news coming your way. Precision Hardwoods, the talented folks who’ve mastered the art of hardwood production, have recently announced a jaw-dropping $12 million investment into a brand new manufacturing facility right here in our beloved city. Yes, you heard that right! This investment is not just a boost for the company; it’s a fantastic opportunity for our community as it promises to create 18 new jobs in the manufacturing sector.

What’s the Scoop?

So, what’s this all about? Let’s break it down. Governor Gretchen Whitmer recently made the exciting announcement, telling us that most of this impressive capital is actually coming straight from Precision Hardwoods itself. Talk about commitment! With this new facility, the company isn’t just bringing in new jobs; they’re also leveling up their production capabilities.

Currently, Precision Hardwoods can produce a whopping 1.5 million board feet of wood. But with this investment, they’re eyeing a massive increase to around 7.5 to 8 million board feet. That’s a huge leap that’ll allow them to better serve their clients nationwide. And who are these clients, you ask? Well, you might have walked on some basketball courts at colleges that they helped build!

What Will They Make?

The company specializes in industrial lumber, and they produce a variety of major products, including pellet materials, pellet stock, and lumber intended for furniture making and cabinets. So, whether you’re into cozying up with handcrafted wooden furniture or just want to know where your favorite basketball court flooring comes from, Precision Hardwoods has you covered!

What’s Happening Next?

The construction of this shiny new facility kicked off in May 2024, and it won’t be long before production begins—look for it in the spring! This isn’t just any ordinary setup either. The modernization efforts will include advanced equipment designed to optimize log cutting. Why? To ensure that they can get the absolute maximum board footage from each log. Efficiency at its finest!

Support from the Economy

To further sweeten the deal, the Michigan strategic fund is chipping in with a $130,000 grant. This shows a strong partnership between the state and local business—a testament to how much everyone values the growth of Onaway.

Local Impact

So, what does this mean for our local economy? Volunteers from Onaway’s Chamber of Commerce are buzzing with excitement about the economic benefits that this new facility is expected to bring. With an average wage of nearly $22 per hour for the new jobs, that’s about four dollars above the regional median wage! It’s a win-win for our community, helping to elevate local earnings and stability.

The Bigger Picture

Precision Hardwoods has been a significant player in the hardwood production scene for more than a decade. Their commitment to sustainability is also noteworthy, as they operate with Forest Stewardship Council certification. This ensures that their practices are environmentally friendly and responsible, giving you one more reason to feel good about supporting local products.

Final Thoughts

As the development unfolds, we can all look forward to seeing more job opportunities, increased local business activity, and a boost to Onaway’s manufacturing scene. All thanks to Precision Hardwoods and their growth! Here’s to a prosperous future for us all!

Deeper Dive: News & Info About This Topic

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