Forestry Innovation Investment Corporate Structure

Forestry Innovation Investment (FII) was established in April 2002, as the investment mechanism for the BC Ministry of Forest’s Forest Investment Account investments in forest sector research, international marketing of BC forest products and practices, and forest sector product development activities.

The Forest Investment Account is based on a Vote of the Legislature, authorizing the Minister of Forests to spend funds on an array of programs ($146 Million in 2002/03), administered largely by the private sector. Funding falls largely into two key areas, Forest Investment Account Land Based Programs (administered by PricewaterhouseCoopers), and Forestry Innovation Investment Programs (administered by Forintek Canada Corp.).

Identified through a competitive proposal process, Forintek Canada Corp. has been selected as the Administrator for the Forest Innovation Investment Program. Under contract to the Ministry of Forests, Forintek has established a new operating division in its Vancouver facility, which will oversee and manage the FII programs.

FII is managed by a core group of program staff. The Executive Director oversees the operations of all FII Programs, and is supported by a Director of International Marketing and Product Development Programs, and a Director of Research Programs.

The Forest Investment Council (FIC) serves as the guidance body overseeing all operations of the Forest Investment Account (FIA). The FIC does not have formal or statutory decision making authority over FIA programming, but reviews and makes recommendations on all FIA programs. Specific to the Forestry Innovation Investment (FII) Program, the FIC will review and endorse program strategies for the International Marketing and Product Development and International Marketing programs, and will review project selection and funding recommendations.

The International Marketing and Product Development Advisory Board serves a program strategy and project adjudication role. The Board will provide guidance and make recommendations on program strategy and program funding, which will be communicated to FIC and approved by the Deputy Minister of Forests.

Forestry Innovation Investment will initiate annual contractual funding arrangements with Proponents, to support cost shared projects designed to achieve FII program objectives. FII will act as a funding mechanism and investment monitoring agent, with Project Proponents managing the delivery of project activities.

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