BUCKFIELD – Elwood Lowell told selectmen during a public hearing Tuesday that when fuel prices started going up, he knew he had to do something or close his lumber business.

The board gave its approval to Lowell’s business to be designated a state Pine Tree Development Zone, which uses tax incentives to spur economic development. Lowell Lumber Co. will be eligible to receive a 100 percent sales and use tax exemption for construction materials and equipment purchases, 80 percent employee tax increment financing for 10 years, a 100 percent refund of corporate income tax and insurance premium tax for five years and local option tax increment financing that will not be counted against the municipality’s existing TIF area and value caps.

Lowell said he expects to add three jobs as he expands his business. He will also change from oil to electricity to power his sawmills.

Lowell said that he won’t be taking any tax money from the community. He just wants to make sure Lowell Lumber continues.

“I just want to get through this down time,” he said.

Town Manager Glen Holmes gave selectmen a report from the Transfer Station Swap Shop, which reported moving 4,000 pounds out of the waste mainstream in July.

A “bring your own booze” permit was approved for the Labor Day weekend dance and a beano application was approved for Friday night before Labor Day.

Diana Dunn was appointed to the Old Church on the Hill Committee.