Deputy premier says forestry an industry in transition, but has ‘strong future’ on the Island

By Greg Sakaki
The Nanaimo News Bulletin
October 29, 2022
Category: Business & Politics
Region: Canada, Canada West

Mike Farnworth

Mike Farnworth, B.C.’s deputy premier, was the final speaker at this week’s State of Vancouver Island Economic Summit in Nanaimo and said the province will continue working with industry to move from “high-volume to high-value production.” The just-released State of the Island Economic Report, prepared by the Vancouver Island Economic Alliance… calculated that the forest sector supported 9,200 jobs on Vancouver Island in 2021, with 59 per cent in forestry and logging, 23 per cent in pulp and paper manufacturing and 18 per cent in wood product manufacturing. …“Looking forward, limited fibre supply and slowdowns in production are expected to persist. There is also the potential for reductions in allowable annual cuts in some areas of Vancouver Island,” the report noted. “As a result, forest operations on Vancouver Island are expected to remain below 2021 levels.” Farnworth said part of forestry’s transition will be “growing B.C.’s forest bio-economy” and said many Vancouver Island companies are leading the way.

Read More