Support for Canada's Forest Sector Economic Recovery

OTTAWA, ON, July 2, 2020 /CNW/ - Canada's forest sector remains a vital source of jobs for Canadians, providing economic, social and environmental benefits. The sector is leading in innovation through clean technologies, building on a strong foundation that includes a robust, world-class sustainable forest management system.  

The Honourable Seamus O'Regan, Canada's Minister of Natural Resources, today announced that the government is launching calls for proposals for the following programs:

• The Investments in Forest Industry Transformation (IFIT) program to invest almost $83 million to bridge the gap between new product development and commercialization and ensure a more competitive and resilient forest sector, and
• The Indigenous Forestry Initiative (IFI), to invest almost $13 million to support Indigenous participation in forestry-related opportunities, businesses, careers and governance.

These three-year investments will help advance Canada's bioeconomy while creating and maintaining jobs in Indigenous and rural communities across the country. The application process is now open and organizations are encouraged to apply on Natural Resources Canada's website.

Canada's forest sector is an economic driver and major employer of Canadians, including Indigenous people and people in rural and remote communities. The Minister made today's announcements on the margins of a virtual meeting with his counterparts from the Canadian Council of Forest Ministers. He reiterated the federal government's commitment to invest in our natural resource sectors, positioning Canada to rebound and emerge from the pandemic even stronger.

Quotes

"Canada's resource industries are among the economic sectors hit hardest by the pandemic. We are taking action to help Canada's forest sector keep people working and come out of this difficult period stronger than before."

The Honourable Seamus O'Regan
Canada's Minister of Natural Resources

Associated Links

• Investments in Forest Industry Transformation (IFIT) Program
• Indigenous Forestry Initiative (IFI) Program
• Canadian Council of Forest Ministers Communiqué

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SOURCE Natural Resources Canada