Forestry Innovation Investment informed that the Government of British Columbia Province of Canada is investing CAD 7.8 million to promote the use of B.C. wood overseas, advance wood building systems and products, and expand global markets.
According to the announcement, through an annual, competitive call for proposals process, 13 industry trade associations and research institutes were selected to receive funding and deliver market development, or wood innovation programs, on behalf of government and industry. B.C.’s contribution is being managed through Forestry Innovation Investment, the Province’s market development agency for forest products. The Province will cost-share these activities, with additional funding provided by B.C. industry and the federal government, through Natural Resources Canada.
Of the CAD 7.8 million:
CAD 5.985 million will be made available for activities targeted at expanding markets for B.C.’s wood products, with investment priorities that reflect evolving market opportunities in Asia and North America
CAD 1.852 million will be made available for activities delivered through the Wood First program, which fosters the innovative use of wood and wood building systems in B.C. through research, education, marketing and capacity building. Bruce Ralston, Minister of Jobs, Trade and Technology, commented:
“Expanding our international markets, especially in Asia, is crucial to the long-term success of B.C.’s forest sector. This funding support opens the door to more trade opportunities for B.C. companies, and will lead to greater innovation in the industry.”
The B.C. forest sector directly employs more than 57,000 British Columbians and supports over 7,000 businesses. Provincial revenue generated through forestry is key to providing essential public services such as education, health care and infrastructure. In 2017, B.C. exported CAD 14.1 billion in forest products (lumber, pulp and paper and other wood products), which represented 32% of B.C.’s total exports.
