Weyerhaeuser to Invest $1 Million in Rural Washington Community

Rhea-AI Summary

Weyerhaeuser Company (NYSE: WY) has announced a $1 million investment in Raymond, Washington, through its THRIVE program. This multi-year initiative aims to support rural operating communities where Weyerhaeuser has a significant presence. Raymond is the second community selected for this program, following Zwolle, Louisiana.

The investment will be made over several years with input from local stakeholders. Weyerhaeuser has a long history in Raymond, owning timberland in Pacific County for over 100 years and operating a lumber mill since the 1930s. The company currently employs more than 300 people in the area.

The THRIVE program focuses on addressing community challenges through collaboration, investment, and advocacy. Potential areas of focus in Raymond include workforce development, job training, and youth education. This initiative is part of Weyerhaeuser's broader 3 by 30 Sustainability Ambition for rural communities.

Raymond, Wash., named second community to receive multi-year investment through the company's THRIVE Program

SEATTLE, July 16, 2024 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced a commitment to invest $1 million in Raymond, Wash., through the company's THRIVE program, which was launched in 2023 to provide targeted assistance to five of its rural operating communities. Through the program, Weyerhaeuser will make the investment over the next several years with significant input from elected officials, employees, nonprofits, local business leaders and other community partners.

"Supporting our rural operating communities is fundamental to our long-term success at Weyerhaeuser," says Devin W. Stockfish, president and chief executive officer. "We're excited to grow our positive impact in Raymond through the THRIVE program and help ensure all our communities remain great places to live, work and do business for decades to come."

Located in Pacific County about two hours southwest of Weyerhaeuser's Seattle headquarters, Raymond is the second community chosen for a THRIVE investment. Weyerhaeuser has owned timberland in Pacific County for more than 100 years and has operated a lumber mill in Raymond since the early 1930s. The company currently employs more than 300 people in the community and surrounding Willapa Hills region.

"We are honored and humbled to be selected as one of Weyerhaeuser's first THRIVE communities," says Dee Roberts, mayor of Raymond. "Weyerhaeuser's roots run deep in Pacific County, and we're excited to work together through this new partnership to help strengthen our community and region in the years to come."

Weyerhaeuser's THRIVE program is a key pillar of the company's broader 3 by 30 Sustainability Ambition around rural communities and goes far beyond the financial investment. In selected communities, Weyerhaeuser leaders engage deeply with local stakeholders to identify and prioritize the challenges to be addressed through long-term collaboration, investment and advocacy. Potential opportunities in Raymond include workforce development, job training and youth education.

"Raymond has been an important community to Weyerhaeuser for a long time," says Nancy Thompson, senior director of Advocacy and Philanthropy. "This is a great opportunity for us to give back, and we're looking forward to sitting down with local leaders, listening to their ideas and coming up with a plan for how best to leverage our resources for the long-term benefit of the community and region."

Zwolle, La., and the northwest Louisiana region was named the first THRIVE community last November. The three remaining THRIVE communities will be announced as they are selected, starting next year. Selected communities represent areas where Weyerhaeuser has a significant presence and a history of employee and leadership engagement; where there are opportunities to take advantage of external resources, such as federal or state infrastructure grants, to strengthen advocacy efforts; and where Weyerhaeuser can partner with other employers, nonprofits and community leaders to amplify efforts and impact on the ground.

ABOUT WEYERHAEUSER
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900 and today owns or controls approximately 10.5 million acres of timberlands in the U.S., as well as 14 million acres of timberlands managed under long-term licenses in Canada. Weyerhaeuser has been a global leader in sustainability for more than a century and manages 100 percent of its timberlands on a fully sustainable basis in compliance with internationally recognized sustainable forestry standards. Weyerhaeuser is also one of the largest manufacturers of wood products in North America and operates additional business lines around real estate, climate solutions, energy and natural resources, among others. In 2023, the company generated $7.7 billion in net sales and employed approximately 9,300 people who serve customers worldwide. Operated as a real estate investment trust, Weyerhaeuser's common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.

For more information contact:
Analysts – Andy Taylor, 206-539-3907
Media – Nancy Thompson, 919-861-0342

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SOURCE Weyerhaeuser Company

FAQ

How much is Weyerhaeuser (WY) investing in Raymond, Washington through the THRIVE program?

Weyerhaeuser (WY) is investing $1 million in Raymond, Washington through its THRIVE program.

When did Weyerhaeuser (WY) launch the THRIVE program?

Weyerhaeuser (WY) launched the THRIVE program in 2023 to provide targeted assistance to five of its rural operating communities.

How long has Weyerhaeuser (WY) owned timberland in Pacific County, Washington?

Weyerhaeuser (WY) has owned timberland in Pacific County, Washington for more than 100 years.

How many employees does Weyerhaeuser (WY) have in Raymond and the surrounding Willapa Hills region?

Weyerhaeuser (WY) currently employs more than 300 people in Raymond and the surrounding Willapa Hills region.

What are some potential focus areas for Weyerhaeuser's (WY) THRIVE program investment in Raymond, Washington?

Potential focus areas for Weyerhaeuser's (WY) THRIVE program investment in Raymond, Washington include workforce development, job training, and youth education.