The Provincial Government of Alberta announced on Thursday (9-29-22) that it has renewed the forest management agreement (FMA) held by Weyerhaeuser Company Ltd. for the next 20-years in exchange for important stewardship responsibilities. These agreements establish the company’s right to grow and harvest Crown timber from forest management units near Grande Prairie and Drayton Valley Alberta.
Over their lifespans, the renewed Grande Prairie and Pembina FMAs are expected to maintain more than 1,250 full-time, contract, and seasonal positions, and will potentially contribute the following, respectively:
- $12.2 million and $14.7 million (CAD) in holding and protection charge payments
- $313 million and $277 million in timber dues payments
- $3.2 billion and $3.5 billion to Alberta’s GDP
In a statement prepared for the FMA renewal, Minister of Agriculture, Forestry, and Rural Economic Development Nate Homer said:
“The decision to renew Weyerhaeuser’s forest management agreements is a great example of how we can provide industry partners with the security needed for long-term investment, maintain hundreds of well-paying jobs for Albertans, and ensure sustainable management practices for Alberta’s forests. A competitive forestry sector drives growth by ensuring that our wood fiber products remain sought-after in a globalized economy.”
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.