In August 2019, a Lyme affiliate closed on a $5.6 million New Markets Tax Credit (NMTC) financing, facilitated by an NMTC allocation from AMCREF Community Capital, to establish Mountaineer Mechanized, a new logging business that will introduce winch-assist harvesting technology in Southern West Virginia where Lyme owns approximately 163,500 acres of timberland. Mountaineer Mechanized is creating safer, higher-quality jobs in logging. It is expected that the systems will minimize ground disturbance and erosion on steep terrain. In addition, it has the potential to serve as a catalyst for additional investment in the logging sector in Appalachia.
Lyme closes on New Markets Tax Credit financing to introduce winch-assist harvesting technology in West Virginia
August 30, 2019