Government Announces Supports to Diversify Forest Industry
Gerry Byrne, Minister of Fisheries and Land Resources, announced initiatives to assist in diversifying the forest industry in Newfoundland and Labrador following through on a commitment to increase timber allocations and harvest levels by 20 per cent by 2020.
The following measures will be taken to support the forest industry:
Provide $89,000 to the Newfoundland and Labrador Forest Industry Association Inc. to hire a consultant to prepare a strategic opportunity analysis, develop a strategy, and related research and development projects.
Assist in the development of proposals to be submitted under the Federal Government’s $155 million Clean Growth in the Natural Resource Sectors program.
The forest industry in Newfoundland and Labrador contributes significantly to the province's Gross Domestic Product and employment. In 2016, the forest sector produced products valued at $382 million, and provided direct and indirect employment for over 5,000 people.