Weyerhaeuser Expansion

Weyerhaeuser Announces $6 Million Expansion

October 8, 2012

NATCHITOCHES, La. — Governor Bobby Jindal joined Weyerhaeuser company executives, state and local public officials and economic development groups, like North Louisiana Economic Partnership (NLEP), October 8, 2012 to announce a $6 million capital investment project. The Weyerhaeuser modernization and expansion project will retain 175 existing jobs and create 30 new jobs at the company's Natchitoches forest products plant.

The company will modernize and upgrade equipment that will lead to more productive operations at the Weyerhaeuser Engineered Lumber Products site, with the new direct jobs paying an average salary of more than $31,000, plus benefits. LED estimates the project will result in an additional 77 new indirect jobs in the area.

"Weyerhaeuser began their forest products operations in our state over 100 years ago, and it employs over 800 people in Louisiana. We're proud that Weyerhaeuser chose to expand and modernize its operations right here in our state because of our strong business climate and incomparable workforce. This expansion demonstrates our strong commitment to growing Louisiana's businesses and moving our economy forward," said Gov. Jindal.

At the 250,000-square-foot facility in Natchitoches, Weyerhaeuser manufactures I-joists under the Trus Joist® brand and laminated veneer lumber and structural header and beams under the Microllam® brand. Weyerhaeuser Plant Manager Steve Story credited the strong workforce and state, regional and local partnerships for the company's growth.

"This investment reflects the commitment of our company in this community and is a result of the tremendous work ethic and dedication of our associates and the local workforce," Story said. "This investment will allow our workforce to grow and our operation to achieve increased efficiencies and process improvements."

NLEP began working with Weyerhaeuser nearly a year ago to connect the company with state and local resources. Partnering with LED's Business Expansion and Retention Group (BERG), NLEP and its partners assisted Weyerhaeuser with applying for incentive programs. The State of Louisiana offered the company a $300,000 Modernization Tax Credit, payable over five years, and the customized services of LED FastStart™ – ranked the No. 1 state workforce development training program in the nation. Weyerhaeuser also is expected to utilize Louisiana's Industrial Tax Exemption and Quality Jobs incentive programs.

"NLEP is pleased to partner with state and local partners, such as BERG, Louisiana Workforce Commission, the City of Natchitoches and the Natchitoches Chamber of Commerce, to assist Weyerhaeuser in expanding," said Liz McCain, NLEP Vice President of Business Development. "The company's new investment strengthens its commitment to the community."

Hiring for the new direct jobs is under way and will be completed within the next two years. Construction will start early next year and will be completed by the end of 2013. Altogether, the company employs 845 people in 10 Louisiana communities: Arcadia, Bogalusa, Dodson, Holden, Livingston, Mandeville, Natchitoches, Ruston, Taylor and Zwolle.

About Weyerhaeuser

Weyerhaeuser Company, one of the world's largest forest products companies, began operations in 1900. The company grows and harvests trees, builds homes and makes a range of forest products essential to everyday lives. Weyerhaeuser manages timberland on a sustainable basis in compliance with internationally recognized forestry standards. The company employs approximately 12,800 people in 11 countries and has customers worldwide, generating $6.2 billion in sales from continuing operations in 2011. Weyerhaeuser shares trade on the New York Stock Exchange under the symbol WY. For more information, visit www.weyerhaeuser.com.

About North Louisiana Economic Partnership (NLEP)

NLEP is a non-profit economic development marketing organization, promoting 14 parishes in North Louisiana as a desirable and profitable business location. The NLEP and its many partners work with both existing companies and prospective employers to encourage incremental capital investment and job creation as a way to build a strong and thriving economy.