Michigan State legislatures previously approved legislation to grant Billerud investment support of up to USD 200 million in funding to support Billerud’s investment plans. On January 31, 2o23, Michigan Governor Gretchen Whitmer signed the legislation, approving the Michigan Economic Development Corporation’s (MEDC) appropriation of the funds. The transformation of the Escanaba Mill is planned to be the cornerstone of Billerud’s expansion into North America, one of the largest and growing markets in primary fiber premium cartonboard. This funding follows additional incentives recently approved by the State of Michigan Administrative Board, including approval of the Forest Products Processing Renaissance Zone. The zone exempts Billerud from paying almost all state and local property taxes at the Escanaba Mill. The final amount of the funding will be relative to the company’s actual investment.