Precision Hardwoods is expanding its Onaway facility in Cheboygan County with a $12 million investment in a modernized sawmill. The expansion will create 18 new jobs, offering an average wage of $21.78 per hour, exceeding the regional median of $18.62. The project is supported by a $130,000 performance-based grant from the Michigan Business Development Program, according to the Michigan Economic Development Corporation.
The expansion includes the construction of a 45,000-square-foot sawmill, increasing the company’s production capacity to meet rising customer demand. Precision Hardwoods specializes in locally sourced wood products and aims to offer more customized options through this investment. The project aligns with Michigan's economic development strategy, which focuses on job growth and industry support.
The company also secured New Markets Tax Credit (NMTC) funding from Michigan Community Capital and PNC Bank. The NMTC program encourages private investment in low-income communities by offering tax incentives to investors. This financial backing, combined with state support, strengthens Precision Hardwoods' ability to expand while creating jobs in Northern Michigan.
