Canada’s forestry industry provides the material that builds our country and the world, while supporting jobs in communities across the country.
But like many industries, forestry companies and workers were impacted by the global recession.
That’s why, our Conservative Government has provided significant support to aid the forestry industry to meet today’s challenges and gain from tomorrow’s opportunities, including:
- Lowering business taxes to 15 per cent. This tax relief will help forestry companies free up money to invest and hire more employees.
- $1 billion for the Pulp and Paper Green Transformation Program.
- $170 million to support market diversification and innovation.
- nearly $130 million for the Forest Industry Long-Term Competitiveness Initiative to help the forestry sector shift toward higher-value products and tap into new markets
- $100 million to support the development, commercialization, and implementation of advanced clean energy technologies in the forestry sector.
- nearly $46 billion in financing for forestry companies through Export Development Canada and nearly $430 million in financing for smaller forestry companies from the Business Development Bank of Canada
- fighting for the successful return of over $4.5 billion in duty deposits to Canadian producers through the Softwood Lumber Agreement of October 2006
- enhancing and extending the Work Sharing program: to avoid layoffs of workers in the forestry industry by offering Employment Insurance income benefits to qualifying workers willing to work a reduced work week while their employer and the economy recovered
- $60 million for the Transformative Technology Program, the Value to Wood Program, the Canada Wood Export Program, and the North American Wood First Initiative.
- providing tax relief to help reduce costs for new investments in manufacturing and processing machinery and equipment in the forestry industry
Economic Action Plan 2012 continues to help forestry companies innovate and tap into new opportunities abroad, including:
- extending the domestic powers of Export Development Canada to provide financing support to Canadian forestry companies and other exporters
- $105 million to promote innovation and market development to support continued transformation in the forestry sector
These measures will help Canada’s forestry sector transition to higher value-added activities in order to maintain high-quality jobs in the industry and the communities that depend on it.