In the face of ongoing trade disputes, including those around softwood lumber, the Government of Canada is taking decisive action to support the forest sector. We are committed to protecting workers and jobs, and giving Canadian companies the stability they need to weather short-term shocks and retool for a stronger, more diversified future.
In support of that commitment, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, today highlighted a $30-million loan to Conifex Timber Inc. through the Large Enterprise Tariff Loan (LETL) facility. The funding provided through LETL will help the company adapt to current conditions, support its workers, and build a more secure future for the community of Mackenzie, British Columbia.
This support comes as the Government of Canada enhances the LETL facility to better meet the needs of Canadian employers facing continued trade uncertainty. Recent improvements to the program, including greater liquidity support and longer repayment terms, will help provide affected businesses with the stability and flexibility they need to maintain operations, protect jobs, and invest in their long-term competitiveness.
Conifex Timber Inc. is a next-generation Canadian forest products company operating in Mackenzie, British Columbia that supports 260 direct jobs. The company produces high-quality lumber products as well as clean renewable energy at its sawmill and bioenergy plant in Mackenzie. By reusing residuals from its manufacturing process, Conifex produces clean renewable energy that is sold to a variety of customers including BC Hydro. With most of its products exported to the United States, the company has been particularly impacted by the tariffs and trade actions imposed by the United States.
Canada's forest sector is a major economic driver, supporting nearly 200,000 workers, including over 11,000 Indigenous people and contributing more than $20 billion to the country's GDP.
