Ontario to Invest C$3.46 Million in Element5, Tripling Its Mass Timber Production

On Tuesday, the Ontario government announced that its Ministry of Natural Resources is investing $3.46 million (CAD) in Element5 to help the mass timber manufacturer expand its operations. The company is Ontario’s first certified manufacturer of cross-laminated timber, part of the fast-growing field of advanced wood construction which builds faster and more efficiently than traditional building materials.

According to the press release, the provincial funding will more than triple the company’s production, creating 32 new jobs, increasing revenue by over 300%, and boosting export sales by nearly 600%.

“With more space and new equipment, Element5 will be able to meet growing demand for their high-quality products and get more building projects done quickly and efficiently,” said Graydon Smith, Minister of Natural Resources. “This company is an advanced wood construction success story, powering growth and development across Ontario, Canada, and the US.”

Ontario recently released an action plan designed to expand wood construction in the province. The Advanced Wood Construction Action Plan positions Ontario to lead the fast-growing sector by using more wood in the construction of mid-rise and tall multi-family residential, commercial, and industrial buildings—creating forest sector opportunity by diversifying and growing demand for sustainably-harvested wood.

“With our sustainably managed forests, forest sector expertise, and access to key export markets, Ontario has a unique advantage in wood construction,” said Nolan Quinn, Associate Minister of Forestry. “Our government’s action plan will use that advantage to expand the forest sector, create jobs, and grow communities by building homes and businesses faster.”

The investment in Element5 and the release of the draft action plan advances Ontario’s forest sector strategy goals—including increasing wood use and growing markets—by making more pre-manufactured building materials available to support faster construction across the province.