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Province publicizes forestry innovation rebate program


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Province publicizes forestry innovation rebate program

The Nova Scotia government has launched an innovation rebate program for the forestry sector in its latest attempt to create new avenues for an industry trying to find its way forward after the closure of Northern Pulp.The rebate program is aimed at helping businesses diversify products, expand markets, improve production processes and other steps to…

Province publicizes forestry innovation rebate program

The Nova Scotia executive has launched an innovation rebate program for the forestry sector in its most neatly-liked strive to provide recent avenues for an trade searching out its arrangement ahead after the closure of Northern Pulp.

The rebate program is aimed at helping corporations diversify merchandise, increase markets, give a boost to manufacturing processes and other steps to mitigate the affects of losing Northern Pulp. (CBC)

The Nova Scotia executive has launched an innovation rebate program for the forestry sector in its most neatly-liked strive to provide recent avenues for an trade searching out its arrangement ahead after the closure of Northern Pulp.

The program, which is able to be administered by Nova Scotia Business Inc., will have $5 million a one year for fiscal years 2020-21 and 2021-22 to provide a 25 per cent rebate as much as a maximum of $3.75 million. Projects desires to be worth between $1 million and $15 million.

The fund is aimed at initiatives that give a boost to manufacturing processes, diversify product ranges, increase manufacturing ability or allow entry to recent markets and name recent makes train of and markets for wood fibre.

Fixed with this system standards on the NSBI online web page, to receive a rebate a mission have to also align with the Lahey Direct on sustainable forestry practices and now not negatively affect the province’s most neatly-liked effect with the United States Department of Commerce.

The cash is moreover to a $50-million transition fund the province created in the wake of Northern Pulp’s closure. The Pictou County-based mill shut down on the end of January after it became as soon as unable to stable approval to provide a brand recent effluent treatment facility and the manager refused to grant an extension for the usage of its present treatment effect.

Jeff Bishop is the government director of Woodland Nova Scotia and a member of the province’s forestry transition group. (CBC)

The manager offered now not too long ago that the transition fund, which has already allocated $13.5 million, may perchance likely well well be topped relieve as much as its original complete. The premise for the rebate program comes from the transition group overseeing the fund.

Jeff Bishop, govt director of Woodland Nova Scotia and a member of the transition group, acknowledged the basis became as soon as attributable to the scamper wager that any industry that may perchance likely well well be pondering a capital expenditure became as soon as likely going to have distress getting assist from a financial institution, pondering the uncertainty surrounding the trade.

“We effect it be now not going to answer to everyone’s questions, but we would never have to be in a location right here the effect anyone is having a judge about to make investments right here but they correct can now not procure web entry to to the finest capital for a little-, medium- or massive-sized industry that may perchance likely well well assemble sense,” he acknowledged in an interview.

“I judge it became as soon as taking inventory of, as I train, what instruments were in the toolbox that we may perchance likely well well leverage right this moment to allow of us to possess what they desire for the length of the industry and procure web entry to to capital to relief them possess that.”

The transition fund has already made cash on hand for silviculture and road-constructing work, quick-timeframe loans to relief with instruments funds and cash for retraining and emergency assistance for people struggling from the mill’s closure.

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