A Mt. Hood Railroad train car houses the gift shop. In operation since 1906, the railroad has recently come under new ownership when, entrepreneur and Webster Orchards owner, Scott. Webster announced Mt. Hood Capital Investments purchased the railroad on Jan. 10.
The Mt. Hood Railroad Depot, located in downtown Hood River, which has sold to new ownership. Mt. Hood Capital Investments CEO, L. Scott Webster, officially announced the purchase of the railroad on Jan. 10.
A Mt. Hood Railroad train car houses the gift shop. In operation since 1906, the railroad has recently come under new ownership when, entrepreneur and Webster Orchards owner, Scott. Webster announced Mt. Hood Capital Investments purchased the railroad on Jan. 10.
Noah Noteboom photo
HOOD RIVER — Local investment firm, Mount Hood Capital Investments LLC, led by orchardist and entrepreneur L. Scott Webster, announced the purchase of the Mt. Hood Railroad on Jan. 10. Webster is the owner of Webster Orchards and The Fruit Company in Hood River.
“I’m really excited about the potential of Mt. Hood Railroad and what it means for the region,” said Webster. “I envision great value by enhancing local agritourism, growing the freight business and providing solutions for our community.”
In November 2019, Mt. Hood Railroad was placed into receivership — a type of bankruptcy protection. A U.S. District Court Judge ordered the railroad’s owner at the time, Iowa Pacific Holdings, to place the railroad into a receivership after they defaulted on a $5 million loan from Big Shoulders Capital LLC. The ruling gave all assets and business operations to an appointed receiver: Novo Advisors, a financial advisory firm from Chicago. Operations remained unchanged according to General Manager Ron Kaufman.
The Mt. Hood Railroad Depot, located in downtown Hood River, which has sold to new ownership. Mt. Hood Capital Investments CEO, L. Scott Webster, officially announced the purchase of the railroad on Jan. 10.
Noah Noteboom photo
Today, Kaufman is thrilled that the railroad is back in the hands of a local.
“I’ve been with them (Mt. Hood Railroad) for about 35 years,” said Kaufman. “And I am really excited about the change and bringing it back under local ownership.”
Currently the railroad serves the lumber industry and more specifically, Cascade Forest Products, who has recently expanded operations in Odell. Cascade Forest Products doubled their track availability giving the railroad increased business on the freight side of operations. To assist the increase in business, the Mt. Hood Railroad has leased an additional locomotive from Locomotive Servicing Company. According to their website, they offer freight services two or three days a week.
The additional locomotive will offer options for those looking for an excursion through the upper valley. According to Kaufman, Mt. Hood Railroad is hoping to have a concrete schedule for tours in the coming weeks, with eyes on an April 1 opening date.
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