Balanced Budget 2015 – A Disciplined Approach for Our Economy
Coast Forest Products Association and its member companies welcome the Province’s disciplined approach to growing our economy as demonstrated today by this year’s Balanced Budget 2015 and presented by Finance Minister Mike de Jong.
The 2015 budget reveals continued stability in funding levels for the Ministry of Forests, Lands and Natural Resource Operations. Within this, the Association acknowledges the government’s ongoing support for the industry through funding for resource stewardship, First Nations partnerships, industry innovation and competition, and market development – all of which further strengthen the competitiveness of BC’s coastal forest industry.
“Coast Forest just returned from a trade mission to India, Japan and China supported by funding allocated in the provincial budget,” says Rick Jeffery, CEO of Coast Forest Products Association. “Our province’s coastal forestry companies face fierce competition in the global marketplace. Government support for trade missions along with initiatives such as the new Renminbi Hub outlined in today’s budget allow them to better address customers’ needs and seize opportunities that will make our forest products the ongoing products of choice.”
BC’s coastal forest industry is traditionally considered a backbone industry. It supports over 38,000 livelihoods, generates $6 billion in annual revenue and pays approximately $394 million in government revenue from taxes and stumpage. This money filters into industries and communities throughout our province.
Today, coastal forestry is redefining itself. This includes an ongoing commitment to research and development, innovation, and investment in people and operations. Coastal forestry companies place a heavy emphasis on further strengthening First Nations partnerships and ensuring that the industry continues to earn its reputation as a recognized world leader in forest stewardship.
While these factors contribute toward increased competitiveness, alone they are not enough to position the industry for future success. Several important steps made by industry government collaboration are necessary. These include ensuring company access to certain and stable fibre supply, continued access to developing global markets, and the management of delivered log costs.
“Today, the government stated that forestry is a cornerstone of our provincial economy – and they continue to demonstrate this through their actions,” added Jeffery. “We look forward to continued collaboration in building a competitive industry today and in the future for the benefit of our province’s economy.”
Coast Forest Products Association represents a modern industry made up of forestry companies that produce logs, lumber and pulp and paper. Known for their world-leading stewardship practices and sustainability, they represent an innovative, high-tech industry producing a growing array of forest and wood products for expanding overseas and domestic markets.
Director of Communications & Research