$100 million supports Quebec forest communities

May 5, 2010, Roberval, QC – A “Temporary Initiative for the Strengthening of
Quebec’s Forest Economies” has been established. This three-year, $100-million
measure is intended to support communities affected by the forestry crisis in
their efforts to expand and diversify their economic activity. The initiative
will make it possible to assist the industry and its workers by providing
funding for local projects that improve the performance of enterprises in
communities hit by the crisis in the forest sector.

To address the pressing needs of communities, the funds allocated to this
initiative will be dedicated exclusively to regions affected by the forestry
crisis. Examples of targeted projects will include those relating to new market
development, a recovery plan, equipment acquisition, development and processing
of forestry waste (biomass), and so on. All projects accepted under this new
initiative must comply with the Softwood Lumber Agreement and Canada’s national
policy on forestry industry investment incentives. The specific terms and
conditions of the measure will be posted shortly on the Canada Economic
Development Agency’s website.