MILLINOCKET — The New Hampshire-based investor that bought two Katahdin region paper mills has announced plans to turn the Millinocket site into an industrial park and launch a national marketing campaign to draw industry to the region.

Officials with Cate Street Capital of Portsmouth, N.H. met in executive session with the Town Council for about an hour Wednesday and unveiled renderings of the first $35 million wood manufacturing machine they plan to build at their industrial park, the site of the Katahdin Avenue paper mill.

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An artist's conception of a $35 million wood manufacturing machine that Cate Street Capital wants to build at the site of the former Millinocket paper mill. Courtesy of Cate Street Capital

They also announced what they called “an aggressive, national marketing campaign to manufacturers in an attempt to bring new jobs and economic vitality to the area.”

The Bangor Daily News reports that councilors and Town Manager Eugene Conlogue said they wanted time to consider the proposal.