New Jobs Fund supports jobs and a resilient economy

StrongerBC Economic Plan supports rural British Columbians through a new fund that will diversify local economies, foster value-added innovation in forestry, and create thousands of good-paying jobs for British Columbians. We offer

“We need more well-paying jobs.” from our forest and every resource of our province,” Premier David Eby said. “The investments we are making in rural British Columbia will help make that happen by helping companies get into the business of making value-added products like wood. When those families can build good lives in the rural communities they call home, our entire state benefits.”

The British Columbia Government plans to invest up to $90 million over three years through the new BC Manufacturing Jobs Fund. The fund supports high-value industrial and manufacturing projects to promote clean and inclusive growth in rural, remote and indigenous communities.

“B.C.’s economic advantage is our people,” said Brenda Bailey, Minister of Jobs, Economic Development and Innovation. “As the natural resources sector transitions, the government is providing new opportunities to invest in local economies, create jobs and ensure long-term prosperity for people across the state.”

The fund helps established commercial organizations plan and launch turnkey projects that directly benefit local and indigenous communities and provide stable, family-supporting jobs.

For example, the BC Manufacturing Jobs Fund provides funding to forestry companies that need or wish to purchase new equipment to support new product lines such as bulk wood production, paper packaging, and small diameter wood processing and manufacturing. may be provided. Build or expand plastic alternative manufacturing facilities in rural areas.

“Forestry is the foundation of B.C.’s economy,” said Forest Minister Bruce Ralston. “By driving innovation across the sector, we can ensure more value-added wood products are produced in B.C. and create more jobs for every tree harvested. Now is the time for people and communities. It’s time to work together to build a stronger, more resilient forestry industry that works better for society.”

The BC Manufacturing Jobs Fund will focus on regions economically impacted by changes in the forestry sector.

This new fund is part of the Forest Worker Community Support Initiative and the StrongerBC Economic Plan’s efforts to build resilient communities. This fund is in addition to the $185 million support package announced in Budget 2022 to ensure coordinated and comprehensive support is in place to offset the economic impacts of forestry change. It is something to do.

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Laurie Russell, Parliamentary Secretary to the Minister for Rural Development –

“Innovation in manufacturing and value-added processing sectors across rural British Columbia has a significant impact on our province’s clean and sustainable economy. This program supports the expansion of innovation and Help build resiliency in high-value resource sectors for current and future generations. Having programs tailored specifically to rural applicants ensures that local values ​​are part of the economy of these communities. We ensure that it guides diversification and migration.”

Doug Routley Parliamentary Secretary to the Minister for Forests and Chairman of the Forestry Worker Support and Community Resilience Council –

“People in rural and local communities built the B.C. we know and love today, primarily through their work in the forests. We need to overcome boom-bust cycles and work with them to develop a more innovative, value-added and resilient economy.”

Bob Simpson, Forestry Worker Support and Community Resilience Council Member –

“At this critical juncture for B.C.’s forestry sector, it is critical that financial capital is readily available to support innovation. This new fund will help forestry innovators find ways to expand and diversify the range of forest products produced in British Columbia. “There is also the potential to help state governments meet their climate change goals.”

Joel McKay, CEO, Northern Development Initiative Trust –

“The announcement of our $90 million investment could not have come at a better time with the recent notification of the permanent closure of Canfor’s pulp line. We applaud the state for recognizing not only the challenges, but also the opportunities for growth and diversification.”

Linda Cody, President and CEO, Forest Industry Council –

“Today’s funding announcement is one step in a broader series of actions needed to maximize the role that strong, sustainable forestry can play in serving people and the planet. We look forward to working with Indigenous organizations, communities, workers and others to collectively tackle the big ideas needed to realize the intergenerational opportunities that sustainable forestry and renewable products represent.”

Joe Nemeth, Manager, BC Pulp and Paper Federation –

“This new program will enable future strategic investments by the pulp and paper sector. Works well with the government’s new initiative to increase fiber supply to the pulp sector by strengthening the industry. Investing in innovation in our current operations is an important step in diversifying our sector. ”

Paul Rasmussen, President, Interior Wood Manufacturers Association –

“We welcome this announcement and look forward to the positive benefits it will bring to our region. Many of our members have already invested in value-added wood products facilities in British Columbia. We can use this opportunity to further innovate. To continue to provide good jobs to British Columbia’s communities, value-added facilities must have safe, long-term access to wood fibers. We will continue to work with the government to implement improvements that meet these needs.”

learn more:

For more information about the BC Manufacturing Jobs Fund, visit gov.bc.ca/ManufacturingJobsFund.

For more information about the Forest Worker Community Support Program, please visit: https://forestryworkersupport.gov.bc.ca/

For more information about the StrongerBC Economic Plan, visit https://strongerbc.gov.bc.ca/plan.

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