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.
News in timber
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.
Rayonier Announces Timberland Acquisitions Across the US South
Rayonier has entered into two separate agreements to acquire approximately 172,400 acres of high-quality commercial timberland located in Texas, Georgia, Alabama, and Louisiana for an aggregate purchase price of $474 million from Manulife Investment Management.
Old-Growth Logging in British Columbia Drops to Record Low
The British Columbia provincial government on Wednesday provided an update on the Old Growth Strategic Review. According to the latest numbers, old-growth logging in BC has decreased to the lowest level on record.
After Hurricane Fiona’s Destruction, Prince Edward Island Government Addresses Needs of Private Woodlot Owners and Forest Industry
On Friday, the province of Prince Edward Island (PEI) announced that in the wake of Hurricane Fiona’s unprecedented impact, the government has formed a task force to address the immediate needs of private woodlot owners and the forestry industry.
State Court in Jefferson County, Washington, Rules Against DNR Timber Sales
On Wednesday, a Jefferson County Superior Court judge ruled against the Washington State Department of Natural Resources, in a case the plaintiffs say will have wide implications on how the agency manages state forests.