The British Columbia provincial government announced on Tuesday (1-17-23) that it will be investing $90 million (CAD) over three years through the new BC Manufacturing Jobs Fund. The fund will focus on areas experiencing economic impacts from changes in the forestry sector. The fund will support established for-profit organizations to plan and launch shovel-ready, high-value industrial and manufacturing projects to drive clean and inclusive growth in rural, remote, and Indigenous communities.
The fund is part of the Forest Worker Community Support initiatives and the StrongerBC Economic Plan’s work to rebuild resilient communities. The fund is in addition to the $185-million support package announced in Budget 2022 to ensure that coordinated and comprehensive supports are in place to offset any economic impacts from a changing forestry industry.
Commenting on the announcement, BC Minister of Forests Bruce Ralston said:
“Forestry is a foundation of BC’s economy. By driving innovation across the sector, we can ensure more value-added products are made in BC and create more jobs for every tree harvest. Now is the time to work together to build a stronger, more resilient forestry industry that better works for people and communities.”
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.