RUMFORD – Dixfield businessman Clinton Bradbury signed the final documents for the purchase of the former Thurston mill Tuesday afternoon.
“We’re ecstatic,” said Rosie Bradley, assistant executive director for the River Valley Growth Council. “This is something really positive we’ve been working on.”
The council has been negotiating the deal for several months. The 72,000-square-foot former woodworking mill, which is located on 17 acres about four miles west of town, was donated to the council several months ago by an Auburn investment firm.
It was sold to Bradbury for $100,000. About 90 percent of the sale price, minus costs, will go to the council, with 10 percent going to the River Valley Technology Center. The building is located in a state Pine Tree Zone, which means it is eligible for a variety of state tax advantages and incentives.
Bradbury said on Tuesday that about 40 new jobs will be created within the next 12 to 18 months, with about 15 of those to be created by the end of the summer. He and six or seven employees have been working at the mill during the past two months under the new company name of Premium Specialty Hardwoods.
Bradbury also owns Dixfield Discount Fuel, a sawmill in Lac Megantic, Quebec, and several log yards throughout the state.
He said the business will produce both retail and wholesale wood products and will be open for business on Monday.
“It’s in a good location and has room for expansion,” he said.
Dick Lovejoy, acting president of the growth council, said this is the first building sold by the council. Funds realized will go into the council’s business development.
Bradley said the council is working on the sale of another vacant building in the area, but declined to identify it.
Joe Derouche, executive director of the council, said the sale of the building puts the property back on the tax rolls.
“It’s nice to see this accomplishment,” he said.
The town of Rumford is also working to sell another long-vacant building – the Abbott Farm Plaza, a former shopping center located about two miles east of the Bradbury mill.
Rumford Town Manager Steve Eldridge said that deal is expected to close sometime next week with Strategic Retail Advisers of Framingham, Mass., also known as Rumford Realty Partnership LLC.
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