A former paper mill in Georgetown, South Carolina, is poised for a new chapter after a New Jersey-based developer, River Development Equities, agreed to purchase the property.
This redevelopment comes after International Paper Company shut down its pulp mill in 2024 and laid off nearly 700 employees. More recently, the company also announced the closure of its Georgetown container plant, leading to 126 additional job losses.
The Shutdown of International Paper’s Georgetown Facility
International Paper, which has had a significant presence in Georgetown for many years, made the decision to close its pulp mill in 2024. The company explained, “International Paper closed its pulp mill in 2024, and has recently announced it will close the Georgetown container plant.
International Paper’s Georgetown, SC facility has been a valuable part of the company for a number of years,” with a spokesperson adding that the company would assist employees and customers through the transition.
New Hope for the Property
Now, the former paper mill site could soon see new life. River Development Equities, a real estate development firm based in New Jersey, has announced plans to acquire the property.
The company specializes in redevelopment projects, having worked on various residential, industrial, and mixed-use developments primarily in the northeast. They also list a South Carolina municipal complex project in Hardeeville among their accomplishments.
River Development Equities’ Vision for the Site
The developer envisions transforming the former paper mill into a mixed-use development that will complement Georgetown’s historic district. The project will blend commercial, hospitality, industrial, and residential uses, although specific details on the planned developments have yet to be revealed.
While the potential job numbers and specific businesses coming to the area are unclear, River Development Equities is optimistic that the project will generate new business opportunities and help create jobs for the Georgetown community.
A New Chapter for Georgetown
This redevelopment could mark a significant turning point for the Georgetown area, which has been dealing with the loss of hundreds of jobs due to the paper mill and container plant closures.
With River Development Equities at the helm, the site could attract fresh investment, generate employment opportunities, and revitalize the local economy.
