This week's budget commits more than $250M in funding to bolster Canada’s forest products industry, which employs more than 230,000 Canadians. "Today the government signaled that it recognizes and supports the transformation taking place in Canada’s forestry communities, noted Derek Nighbor, FPAC’s President and CEO. "Substantial investments dedicated to accelerating research and development, improving market access, and advancing product innovations demonstrate that the government understands where our industry is heading. We look forward to continuing our work with the federal government on these priorities for forestry workers and their families across Canada."

Funding Highlights for Canada’s Forest Products Sector:

• $91.8 million over three years for the Forest Innovation Program, to support pre-commercial research and development, positioning the Canadian forest sector at the forefront of the emerging bioeconomy.
• $82.9 million over three years for investments in the Forest Industry Transformation program, to support the industrial commercialization and adoption of innovative technologies and processes, contributing to clean economic growth and jobs.
• $64.0 million over three years for the Expanding Market Opportunities Program, to increase and diversify market opportunities for Canadian forest products in offshore markets, and expand wood use in non-residential and mid-rise construction, including within Canada.
• $12.6 million over three years for the Indigenous Forestry Initiative, to support forest-based economic development for Indigenous communities across Canada.