Midway sawmill to re-open with community investment

A deal has been reached to re-open Boundary Sawmill in Midway.

Vaagen Brother’s Lumber will now operate the mill, which used to be owned by bankrupt Pope and Talbot. The location has sat idle for three years.

The Village of Midway is now an owner of the Boundary Sawmill along with numerous residents of Midway, Greenwood and Rock Creek who have purchased shares.

Shares are also being offered to other BC residents, who can benefit from a BC tax credit if the shares are purchased before February 28, 2011. The mill would like to raise another $3-4 million to move forward on re-opening the business and purchasing fibre. A $10,000 investment, which is RRSP eligibile, will qualify for a $3,000 BC tax credit.

Vaagen anticipates hiring up to 35 workers for the mill, but has released no date for start-up.