Helping innovative businesses and organizations grow and thrive is critical to Atlantic Canada's economic success. The Governments of Canada and New Brunswick are supporting the Northern Hardwoods Research Institute so it can improve its applied research capacity and knowledge transfer in the forestry sector.
Investments will create jobs
Today, René Arseneault, Member of Parliament for Madawaska-Restigouche, announced Government of Canada investments of over $1.2 million for two projects with the Northern Hardwoods Research Institute. The announcement was made on behalf of the Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA. The provincial Natural Resources and Energy Development Minister Mike Holland also announced a contribution of $684,000 towards these projects.
ACOA is contributing $605,829 under the Regional Economic Growth through Innovation (REGI) program to hire researchers and technicians to develop precision forest inventory measurements and produce high-quality training data in a two-phase approach to commercialization. The provincial government is contributing $84,000 to this project.
ACOA is also investing $600,000 through the REGI to support the Institute's operational activities for the next three fiscal years as it moves toward financial self-sufficiency. The provincial government has contributed $600,000 toward this project.
These two projects will benefit the province's forestry and technology stakeholders, as well as woodlot owners. Together, the two projects will create up to 18 short-term jobs.
Today's announcement further demonstrates the Government of Canada's commitment to focusing on economic diversification for job and wealth creation, now and in the future.
