TAYLOR -- The acquisition of the Canfor Pulp Mill in Taylor has been finalized, and with it comes a major economic investment for the District of Taylor.

The mill and its 300 plus acres of industrial land was acquired by Calgary-based Buffalo Rail and Infrastructure Corporation for $7 million.

"When one door closes, another one opens for this site. We, along with our stakeholders at Buffalo Rail, were able to establish new uses for the discontinued pulp mill that will optimize the site's characteristics and support industrial growth in the region," said Jarrett Zielinski, Buffalo President & CEO.

The company will invest over 50 million dollars to develop the site into a multi-use industrial distribution and logistics centre, aimed at servicing the region’s energy, agricultural, and forestry industries.

"The multi-phased, multi-year development provides a much-needed response to the changing logistics and supply chains needs of industrial participants across multiple industries and sectors in Western Canada and beyond,” said Zielinski.

Taylor will also see hundreds of new job opportunities open up, with phase one of the redevelopment expected to bring 100 new construction and 30-full time permanent jobs at the facility.

The mill, which curtailed its operations in 2021, announced an agreement to sell to an undisclosed buyer in February of 2024 after Canfor CEO Kevin Edgson said “a reduction in the long-term supply of fibre in the Peace region" made it difficult to sustain the operation following year-over-year losses and changing market conditions.

"The features of this site provide boundless opportunity to support the industrial growth forecast for the region,” said Robert Reimer, Chief Financial Officer of Buffalo.

Phase one of the new site is expected to be operational by summer of 2025.