The Forest Products Association of Canada (FPAC) is asking the federal government to use Budget 2013 to continue to build on the existing momentum of innovation and transformation in the job-rich forest sector. This should include replenishment of the successful Investments in Forest Industry Transformation (IFIT) program.
The original $100 million IFIT program generated 107 applications and was over-subscribed by a factor of five, demonstrating the significant appetite by the Canadian forestry sector to develop and commercialize new innovative technologies in the areas of bio-energy, bio-chemicals and new solid wood projects. About a third of these project applications were for world-first innovations. By investing $300 million over the next three years in IFIT, the government will continue to support the ambitious Vision2020 agenda of the Canadian forest sector.
“We know the government is facing an era of fiscal restraint,” says the President and CEO of FPAC, David Lindsay. “However by continuing to demonstrate support for our transformation agenda the government will maximize the return on its significant investment in industry transformation to date, help the Canadian sector lead the world in innovative products and unleash the potential of Canada’s vast forest resource.”
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