12/13/2023
ECONOMIC DEVELOPMENT--Forestry Trust Announces
Funding for New Program
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NOTE: This release is issued on behalf of the Forestry Innovation Transition
Trust.
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The Nova Scotia Forestry Innovation Transition Trust is investing $9.85 million
in a new program to support businesses facing increased costs from adopting
more sustainable forestry practices.
Under the Ecologically Sustainable Forestry Equipment Program, businesses will
be able to apply for a grant to help with the cost of buying or retrofitting
equipment for sustainable harvesting operations. An eligible business could
receive up to $500,000 in total from the program.
Available grants include:
-- up to 35 per cent of the purchase price for new equipment (maximum grant of
$250,000)
-- up to 30 per cent for used equipment (maximum grant of $125,000)
-- up to 30 per cent for retrofits (maximum grant of $100,000).
The trust is developing criteria and application requirements for the program,
which will be administered through Nova Scotia Community College (NSCC).
Quotes:
"This program will provide critical support to the forestry sector as it
transitions and adopts more ecological approaches to forest management. This
will ensure the sustainability of harvesting operations and the sector over the
long term."
- Rosalind Penfound, Chair, Forestry Innovation Transition
Trust
"This tremendous multimillion-dollar investment from the Forestry
Innovation Transition Trust builds on the important work of our Centre of
Forest Innovation. The Ecologically Sustainable Forestry Equipment Program will
go a long way to help modernize and make more sustainable the work of this
important provincial sector."
- Don Bureaux, President, Nova Scotia Community College
"We are grateful for the support to help our contractors make the
necessary equipment upgrades to assist in our transition to sustainable
ecological forestry practices. This support comes at a time when the sector is
facing increased costs to transition to ecological forestry and will have
positive impacts across the whole sector."
- Angela MacGillivary, Executive Director, Nova Scotia
Forestry Contractors' Association
"As private woodlot owners, we appreciate this financial support for
forestry contractors to upgrade their equipment. The assistance for upgrades is
essential for our members to be part of the transition to the triad approach to
ecological forestry while getting an acceptable price for our wood."
- Debbie Reeves, Chair, Large Private Non-Industrial
Landowners of Nova Scotia
Quick Facts:
-- there are now 19 approved projects under the trust with total commitments of
$38.4 million; it will remain open for new applications until March 31, 2025,
or until funds have been spent
-- the trustees are Rosalind Penfound, Douglas Hall and David Saxton
-- projects may include the development of high-value products and/or new and
enhanced business models, processes or services, inclusive economic growth
opportunities and new ecological services
-- the trust accepts applications from businesses, organizations and
post-secondary institutions three times a year; 2023 applications will be
accepted again in December
-- forestry workers can apply at any time for funding to support training or
retraining
