Plum Creek Timber
Encyclopedia
Plum Creek Timber is the largest private landowner in the United States
. Most of its lands were originally purchased, or otherwise acquired as timber
land.
Headquartered in Suite 4300 at 999 Third Avenue in Seattle
, Plum Creek was spun off from Burlington Resources
as a master limited partnership
on June 8, 1989. It converted to a real estate investment trust
on July 1, 1999 in order to obtain tax and accounting advantages available to concerns primarily involved in real estate development.
Burlington Resources was created from the Burlington Northern railroad's natural resources holdings in 1988; Plum Creek Timber is therefore heir to some of the 47 million acres (190,202.4 km²) of timberland originally granted by the federal government to the Northern Pacific Railway
in the 1860s.
Today Plum Creek Timber owns and manages timber lands in the United States. The company engages in the sale and management of timber lands, and the sale of nonstrategic timber lands. It also produces a line of softwood lumber products, including common and select boards, studs, edge-glued boards, and finger-jointed studs. These products are targeted to domestic lumber retailers, such as retail home centers, for use in repair and remodeling projects. These products are also sold to stocking distributors for use in home construction.
In addition, the company engages in the natural resource businesses that focus on opportunities relating to mineral extraction, natural gas
production, and communication and transportation rights of way. As of December 31, 2004, the company owned and managed approximately 7.8 million acres (32,000 km²) of timber lands in the northwest, southern, and northeast U.S., as well as owned and operated 10 wood product conversion facilities in the northwest U.S.
east of Seattle, in exchange for 11500 acres (46.5 km²) in Federal lands. Plum Creek had warned the U.S. Government that it would log the land should the deal not go through. The federal government also had to pay $4.3 million as part of the deal.
In 2008, Senator Max Baucus
arranged for appropriations in the 2008 Farm Bill to be used to purchase 310000 acres (1,254.5 km²) of Plum Creek land in Montana. This project became known as the Montana Legacy Project
.
by Greenville, Maine
, one of the largest undeveloped forests east of the Mississippi.
This follows on the heels of their development of managed land in Washington state (Suncadia) and Montana
(Moonlight Basin
, Yellowstone Club
) into costly resorts, bringing golf course
s and luxury housing into the deep forests. The debate pits conservation groups trying to balance recreation and protection, and the effects of sprawl and over-development upon wildlife, quality of life, and the employment of local populations who depend in part on the hunting, fishing and tourist trades which may be damaged by the over-development of the area.
Plum Creek believes in three principles: Replanting, Protecting Water Quality, and Managing Wildlife Habitat. Every year Plum Creek replants approximately 85 million seedlings and plans for the natural regeneration of millions of trees. Close to 2000000 acres (8,093.7 km²) of land owned by Plum Creek are a part of four habitat conservation plans across the country and in Montana are involved in a conservation agreement for the grizzly bear.
In 2001, Plum Creek at their Medium Density Fiberboard facility completed the installation of a biofilter, a new air emission treatment technology. This technology uses naturally occurring bacteria to destroy air pollutants that are generated in the wood fiber drying and pressing processes. The technology doesn’t burn natural gas like most treatment systems do to destroy pollutants.
They are also currently working on a Plum Creek Moosehead development. According to an environmental group, calling themselves the Native Forest Network (NFN), if approved by the Land Use Regulation Commission, Plum Creek’s plan would increase Maine’s total carbon emissions by nearly 8%.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. Most of its lands were originally purchased, or otherwise acquired as timber
Timber
Timber may refer to:* Timber, a term common in the United Kingdom and Australia for wood materials * Timber, Oregon, an unincorporated community in the U.S...
land.
Headquartered in Suite 4300 at 999 Third Avenue in Seattle
Seattle, Washington
Seattle is the county seat of King County, Washington. With 608,660 residents as of the 2010 Census, Seattle is the largest city in the Northwestern United States. The Seattle metropolitan area of about 3.4 million inhabitants is the 15th largest metropolitan area in the country...
, Plum Creek was spun off from Burlington Resources
Burlington Resources
Burlington Resources, was an American oil and gas company. Their headquarters were in Houston, Texas. The company was acquired by ConocoPhillips in 2006....
as a master limited partnership
Master limited partnership
Master limited partnership is a limited partnership that is publicly traded on a securities exchange. It combines the tax benefits of a limited partnership with the liquidity of publicly traded securities....
on June 8, 1989. It converted to a real estate investment trust
Real estate investment trust
A real estate investment trust or REIT is a tax designation for a corporate entity investing in real estate. The purpose of this designation is to reduce or eliminate corporate tax. In return, REITs are required to distribute 90% of their taxable income into the hands of investors...
on July 1, 1999 in order to obtain tax and accounting advantages available to concerns primarily involved in real estate development.
Burlington Resources was created from the Burlington Northern railroad's natural resources holdings in 1988; Plum Creek Timber is therefore heir to some of the 47 million acres (190,202.4 km²) of timberland originally granted by the federal government to the Northern Pacific Railway
Northern Pacific Railway
The Northern Pacific Railway was a railway that operated in the west along the Canadian border of the United States. Construction began in 1870 and the main line opened all the way from the Great Lakes to the Pacific when former president Ulysses S. Grant drove in the final "golden spike" in...
in the 1860s.
Today Plum Creek Timber owns and manages timber lands in the United States. The company engages in the sale and management of timber lands, and the sale of nonstrategic timber lands. It also produces a line of softwood lumber products, including common and select boards, studs, edge-glued boards, and finger-jointed studs. These products are targeted to domestic lumber retailers, such as retail home centers, for use in repair and remodeling projects. These products are also sold to stocking distributors for use in home construction.
In addition, the company engages in the natural resource businesses that focus on opportunities relating to mineral extraction, natural gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
production, and communication and transportation rights of way. As of December 31, 2004, the company owned and managed approximately 7.8 million acres (32,000 km²) of timber lands in the northwest, southern, and northeast U.S., as well as owned and operated 10 wood product conversion facilities in the northwest U.S.
Transactions with the U.S. Federal Government
In late 1999, Congress approved a land swap involving more than 42000 acres (170 km²) of forest land in the Cascade Mountains. In the deal, Plum Creek gave up 31000 acres (125.5 km²) of land, much of it along Interstate 90Interstate 90
Interstate 90 is the longest Interstate Highway in the United States at . It is the northernmost coast-to-coast interstate, and parallels US 20 for the most part. Its western terminus is in Seattle, at Edgar Martinez Drive S. near Safeco Field and CenturyLink Field, and its eastern terminus is in...
east of Seattle, in exchange for 11500 acres (46.5 km²) in Federal lands. Plum Creek had warned the U.S. Government that it would log the land should the deal not go through. The federal government also had to pay $4.3 million as part of the deal.
In 2008, Senator Max Baucus
Max Baucus
Max Sieben Baucus is the senior United States Senator from Montana and a member of the Democratic Party. First elected to the Senate in 1978, as of 2010 he is the longest-serving Senator from Montana, and the fifth longest-serving U.S...
arranged for appropriations in the 2008 Farm Bill to be used to purchase 310000 acres (1,254.5 km²) of Plum Creek land in Montana. This project became known as the Montana Legacy Project
Montana Legacy Project
The Montana Legacy Project is a three phase purchase of more than of land owned by Plum Creek Timber in northwestern Montana. The land is within the counties of Missoula, Mineral, Lake and Powell...
.
Environmental record
There is some controversy over the management of Plum Creek's timberland, mostly from environmental groups who decry the recent move from Plum Creek as a timber management company into a developer of its land, taking advantage of the much more profitable land values that have occurred for undeveloped land in the late 1990s until the crash in real estate prices. Plum Creek is engaged in a proposal for a large resort and development tract in the Northern Maine Woods, on Moosehead LakeMoosehead Lake
Moosehead Lake is the largest lake in the U.S. state of Maine and the largest mountain lake in the eastern United States. Situated in the Longfellow Mountains in the Maine Highlands Region, the lake is the source of the Kennebec River. Towns that border the lake include Greenville to the south and...
by Greenville, Maine
Greenville, Maine
Greenville is a town in Piscataquis County, Maine, United States. The population was 1,623 at the 2000 census. The town is centered around the lower end of Moosehead Lake, the largest body of fresh water in the state. Greenville is the historic gateway to the north country and a center for...
, one of the largest undeveloped forests east of the Mississippi.
This follows on the heels of their development of managed land in Washington state (Suncadia) and Montana
Montana
Montana is a state in the Western United States. The western third of Montana contains numerous mountain ranges. Smaller, "island ranges" are found in the central third of the state, for a total of 77 named ranges of the Rocky Mountains. This geographical fact is reflected in the state's name,...
(Moonlight Basin
Moonlight Basin
Moonlight Basin is a ski resort in southwestern Montana, located in the Madison Range of the Rocky Mountains near the resort village of Big Sky...
, Yellowstone Club
Yellowstone Club
The Yellowstone Club, also Yellowstone Ski Resort, is an invitation-only residential club, ski resort, and golf resort located in the state of Montana, USA. The Rocky Mountain ski and golf club is located in eastern Madison County, just west of Big Sky, Montana, south of Bozeman and northwest of...
) into costly resorts, bringing golf course
Golf course
A golf course comprises a series of holes, each consisting of a teeing ground, fairway, rough and other hazards, and a green with a flagstick and cup, all designed for the game of golf. A standard round of golf consists of playing 18 holes, thus most golf courses have this number of holes...
s and luxury housing into the deep forests. The debate pits conservation groups trying to balance recreation and protection, and the effects of sprawl and over-development upon wildlife, quality of life, and the employment of local populations who depend in part on the hunting, fishing and tourist trades which may be damaged by the over-development of the area.
Plum Creek believes in three principles: Replanting, Protecting Water Quality, and Managing Wildlife Habitat. Every year Plum Creek replants approximately 85 million seedlings and plans for the natural regeneration of millions of trees. Close to 2000000 acres (8,093.7 km²) of land owned by Plum Creek are a part of four habitat conservation plans across the country and in Montana are involved in a conservation agreement for the grizzly bear.
In 2001, Plum Creek at their Medium Density Fiberboard facility completed the installation of a biofilter, a new air emission treatment technology. This technology uses naturally occurring bacteria to destroy air pollutants that are generated in the wood fiber drying and pressing processes. The technology doesn’t burn natural gas like most treatment systems do to destroy pollutants.
They are also currently working on a Plum Creek Moosehead development. According to an environmental group, calling themselves the Native Forest Network (NFN), if approved by the Land Use Regulation Commission, Plum Creek’s plan would increase Maine’s total carbon emissions by nearly 8%.