On Wednesday, the New Brunswick provincial government reported that it was investing $600,000 (CAD) in forest research in northern New Brunswick. The forestry sector—through Groupe Savoie, AV Group, J.D. Irving, and Forest NB—also committed to matching the province’s funding.
News in timber
BC Announces New Rural Economic Diversification Program
The BC Government announced that it is investing as much as $33 million (CAD) in 2022–23 to support projects that promote economic diversification, resilience, clean-growth opportunities, and infrastructure development.
Bureau of Land Management Agrees to Reverse Trump-Era Post-Wildfire Logging Rule Changes
A year ago, environmental groups sued the Bureau of Land Management over rule changes made during the Trump administration that allowed the agency to log large areas of forests after a wildfire without first doing an environmental review.
Black Hills Timber Industry Wins Appeal to US Forest Service for GTR Review
The Black Hills local timber industry received some welcome news last week when a formal review of the findings from a critical general technical report (GTR) found flaws in the methodology used to determine its conclusion.
New Employment Opportunities to Support Rural BC Forestry Workers
The BC Government announced on Monday that more employment opportunities are in progress for contractors and forestry workers throughout rural BC under the province’s Forest Employment Program (FEP). It will be funded through the province’s $185 million support package to help British Columbians impacted by old growth deferrals.
Georgia Voters Approve Ballot Measure Exempting Forestry Equipment From Property Tax
According to the New York Times, Georgia voters on Tuesday approved by a margin of 59% to 41%, “Referendum A” which beginning January 1st, 2023, will provide an annual ad valorem (property) tax exemption for equipment use for managing, harvesting, and replanting forests.
GreenFirst Forest Products Subsidiary Sells 203,000 Acres of Private Forestland to Perimeter Forest
GreenFirst Forest Products announced on Monday that its subsidiary, GreenFirst Forest Products (QC) Inc, has entered into an agreement to sell its interest in approximately 203,000 acres of private forest land to Perimeter Forest Limited Partnership for a cash consideration totaling $49.25 million (CAD).
US National Interagency Fire Center Wildfire Update for the Week Ending November 4th
The US National Interagency Fire Center (NIFC) reported that fifteen large new wildfires were reported during the week ending last Friday, and wildland firefighters have been able to contain most of them. Currently there are two large wildfires that have burned more than 127,000 acres in Oregon and Tennessee.
Biomass Company With Plants in Maine Files for Bankruptcy, Potentially Putting State’s Loggers at Risk
Despite millions in state subsidies, Maine biomass company Stored Solar has filed for bankruptcy. The company says it owes $17.8 million to creditors including an energy market investment company, the states of Maine and New Hampshire, and Maine loggers.
Anew Climate Announces Acquisitions Including 1.7-Million-Acre Timberland Portfolio
Anew Climate announced on Wednesday the acquisition of entities managed by The Forestland Group, which include a 1.7-million-acre timberland portfolio. The transactions are valued at approximately $1.8 million, representing one of the largest private conservation-focused forest investments in US history.