ASHLAND, Maine — Irving Forest Products’ Ashland sawmill will soon double its space with help from the Finance Authority of Maine. At their April 30, 2026 meeting, the board of directors of the FAME approved state new markets tax credit financing to assist with the planned expansion.

The funds will be used as part of an overall multimillion-dollar project to modernize and expand its sawmill. The investment will double the facility’s annual lumber production capacity from 130 million to 250 million board feet while strengthening its role as a manufacturer of dimensional lumber. The sawmill currently supports the equivalent of 140 full-time positions and will grow to the equivalent of approximately 220 full-time jobs upon completion of the project.

Tax credit financing offers tax incentives to investors for backing a project. FAME’s board of directors approved a combined total of $16.5 million in tax credits to five community development groups, which together invested $42 million toward the expansion, the release stated.

“We deeply appreciate FAME’s support for this important project,” stated Jerome Pelletier of Irving Forest Products, Inc. “This investment reflects the hard work of our team and our long-term commitment to the region. It will help us support good jobs and continue contributing to the Aroostook community.”

“This investment reflects the hard work of our team and our long-term commitment to the region,” Jerome Pelletier of Irving said in a statement. “It will help us support good jobs and continue contributing to the Aroostook community.”