$300 million deal to shield working forests

A major timber company and two conservation groups announced Tuesday what they called the largest private land conservation effort in the South: a $300 million deal to place 218,000 acres of working forests in 10 states under a sustainable logging program.

Under the terms, International Paper will receive $300 million from The Nature Conservancy and The Conservation Fund for the land, while retaining the right to some harvesting under sustainable principles.

The company could have sold the land for subdivisions and related development, possibly for much more, but the deal bans that. The approach — better a working forest than buildings and roads — has taken root in other areas of the country in recent years as timber companies are tempted to sell forests to make room for suburban growth.

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