The recent sale of the Wausau paper plant in Groveton has concerned local residents.
They've been trying to figure out if the news is good or bad for the struggling village.
State and local officials met with residents on Thursday to allay fears.
NHPR correspondent Chris Jensen has the story.
When the Wausau Paper plant in Groveton closed last December about 300 people lost their jobs.
It was an economic disaster.
One thing folks hoped for was that somehow a strong company would purchase the huge plant and provide new jobs.
Wausau sold the plant at the end of August.
That triggered worries and rumors, both frightful and upbeat.
Brian Bresnhan worked at the plant.
“The initial shock, when it came out in the newspaper, ran rampant through the town.”
Jim Tierney is a selectman:
“There was a lot of anxiety. There was a lot of anger. But as I pointed out to most of them that anger is more or less directed at Wausau, it is not directed at the new fellow. The folks just want to know what do you plan to do with it? That is basically what they want to know.”
That new fellow is really new.
It is Groveton Acquisitions LLC.
It was formed as a New Hampshire corporation just a few days before the purchase.
State records show its purpose is “the development and sale of commercial real estate, sales of paper producing machinery and equipment as well as other lawful activities.”
Documents list William Firestone as the manager.
He also heads up the Capital Recovery Group of Connecticut.
That firm’s web site describes the company “as leader in the appraisal and disposition of industrial and commercial assets.”
Firestone did not return a call from NHPR.
Thursday night local and state officials met with about 100 residents to help them sort things out.
Before it began, as the bleachers in the high school gym were filling, the rumors flew.
A chemical plant might be coming. The old plant would be torn down. On and on.
Then selectman Jim Tierney said the new owners and state economic development officials had held a conference call earlier in the day.
“The gist of what I got from the call is he is not out to do what happened in Berlin: level the place and leave a vacant lot. That is not his plan at the moment. His plan is to put businesses in there, jobs and make money either selling it, renting it or whatever.”
Still, residents had questions.
WOMAN: “What authority does the town have if they want to put a paint company in there or a chemical company? Can they just do what they want or does the town have the authority to say ‘No, we don’t want that here.’”
One man worried that the newly formed company had so few assets it would be impossible to get anything from them in case of any environmental problems.
He used to work at the plant and said it’s full of asbestos.
Another resident wanted more than verbal promises.
MAN: “Having just his word isn’t too good. You ought to have something on paper so they don’t come back and say, ‘That was just a word of mouth.’”
One thing that shocked many residents was reading that Wausau sold the multi-million dollar plant for $100,000.
Perry Grueber is a spokesman for Wausau:
“The actual purchase price was substantially higher than the $100,000 initially reported in the local media. Given the magnitude of the transaction, it won’t be disclosed.”
Whatever the price, state officials were optimistic but wary.
Michael Vlacich is the director of the state’s division of economic development.
“One thing I think we have all been though out this is very sober about the situation and I in no way, shape or form want to spread a message of false hope here. The reality is this group has told us point blank what they need to help keep this facility intact.”
That means working with the new owner – Groveton Acquisitions - to find businesses interested in locating there.
“What we have for the first time is an outfit that wants to market the site aggressively and work with us to recruit companies here. So, we will probably double our marketing effort as a result of this new company.”
Meanwhile Vlacich said the new owners promised to do their share.
“The new ownership team has indicated they are willing to provide financing opportunities, perhaps even lower cost rental options for those companies looking to locate there. They are looking to be creative. And, again, right now we like what we are hearing.
Peter Riviere runs the Coos Economic Development Corporation.
He said selling the plant is a big step towards helping the town.
“My take is pretty positive. We and the state have had numerous contacts look at that property, anxious to get into it and we have been stymied by Wausau not wanting to talk about the future, you’ll have to talk to the new owners when and if it is sold. Well, now that has happened.”
There are still plenty of questions ahead.
How long will Groveton Acquisitions wait for new tenants or buyers?
Who might those tenants or buyers be?
But as former Wausau worker Brian Bresnahan sees it, one thing is sure. Eight months after the plant closed it has a new owner and that provides a chance to move ahead.
“This didn’t happen to Berlin eight months down the line, or today, Berlin is not moving as fast as this is. So, we’ll see.”
For NHPR News, this is Chris Jensen
Delicious
Digg
Reddit
Facebook
Google
Yahoo