MORNING SENTINEL • January 29, 2024
The $500,000 in financing approved by the quasi-independent Finance Authority of Maine is expected to help create and retain more than 100 jobs in Somerset County by allowing the manufacturer to buy equipment needed to produce its full product line later this year, the agency said in a statement. TimberHP, a division of Belfast-based GO Lab Inc., uses renewable resources to produce wood fiber insulation products, according to the company’s website. The products are the first of their kind in North America. The company began operations last year in Madison at the former Madison Paper Industries mill on Main St., which closed in 2016. The renovation of the mill, funded largely through public-private partnerships, cost about $150 million.