Nova Scotia Forestry Innovation Trust Announces New Funding to Aid Businesses Adopting Sustainable Forestry Practices
Forestry Trust Announces Funding for New Program
The Province of Nova Scotia on Wednesday (11-22-23) released a press release on behalf of the Nova Scotia Forestry Innovation Trust announcing that the Trust is investing $9.85 million (CAD) in a new program to support businesses facing increased costs from adopting more sustainable forestry practices.
According to the press release, under the Ecologically Sustainable Forestry Equipment Program, Nova Scotia businesses will be able to apply for help with the cost of buying or retrofitting equipment used for sustainable harvesting operations. An eligible business could receive up to $500,000 in total funding from the program.
Available grants include the following:
- Up to 35% of the purchase price for new equipment (maximum grant of $250,000)
- Up to 30% for used equipment (maximum grant of $125,000)
- Up to 30% for retrofits (maximum grant of $100,000)
The trust is developing criteria and application requirements for the program, which will be administered through Nova Scotia Community College.
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