Budget 2021, Investing in the Forest-Based Bio-economy
The forest industry plays a vital role in many of Canada’s rural communities, and the industry will have an important place in greening our economy. Wood-based innovations are helping drive developments in Canada’s low-carbon economy. They can be used in biofuels, bioplastics, building materials, and other products our economy needs, and replace less sustainable products.
Developing and marketing these new biomaterials will help protect good jobs in hundreds of Canadian communities. To support the growth of the forest-based bio-economy, Budget 2021 proposes to provide $54.8 million over two years, starting in 2021-22, to Natural Resources Canada, to enhance the capacity of the Investments in Forest Industry Transformation program, including working with municipalities and community organizations ready for new forest-based economic opportunities.