By Railfan & Railroad Staff

HOOD RIVER, Ore. — Oregon’s Mount Hood Railroad has been sold to a local investment firm. The tourist railroad and freight operator had been placed into receivership back in 2019 when its previous owner, Iowa Pacific Holdings, defaulted on a $5 million loan. 

The new owner, Mount Hood Capital Investments LLC, plans on keeping the railroad’s current local management. They also plan on acquiring another locomotive in hopes of increasing freight business. The railroad operates on 22 miles of track from Hood River to Parkdale. 

“I’m really excited about the potential of Mt. Hood Railroad and what it means for the region,”  L. Scott Webster, the head of the investment firm, told the Columbia Gorge News this week. “I envision great value by enhancing local agritourism, growing the freight business and providing solutions for our community.”

Officials say they hope to have excursion service start in April.