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LP to pay US$900,000 to amend incentives package?
Published:  12 February, 2009

Louisiana-Pacific Corporation (LP) may have to pay up to US$900,000 to amend an economic incentives package for its new Thomasville OSB mill, which has been idled since shortly after it opened early in 2008.
Local and state governments gave more than US$17m toward construction of the US$260m plant in Clarke County and in exchange, the Nashville, Tennessee-based company agreed to employ at least 130 workers for 12 months at the mill, The Associated Press reported in December.
The chairman of the Clarke County Commission, Elma Averett, said the county wants LP to pay as much as US$900,000 to change the incentives deal so it can lay off the idled mill's 138 workers.
LP could be forced to pay back at least US$2.9m, according to AP. A Clarke County administrator said the county owes US$6.6m on the money it borrowed to use as incentives for the plant, and it has a US$462,145 payment budgeted this year. The county put a US$25 tax on license plate renewals to pay the debt.

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