|March 26, 2003||Ministry of Forests|
Revitalizing B.C.’s forest economy will require industry, workers, communities and government to adjust to new ways of doing things.
For this reason, government is creating a $75-million trust fund to be used for transition assistance. The B.C. Forestry Revitalization Trust (PDF) will be administered by a trust management board with representatives from unions, logging associations, major licensees and government.
Transition assistance will be available both in the Interior and on the Coast. It is expected that a proportionately higher share of the funds will be spent on the Coast, where the province’s forest sector has experienced the most serious declines, and where the greatest adjustment may be necessary.
Transition funding will be available to three groups:
The trust management board will set out guidelines for who will receive payments and decide how much will be paid under what conditions, so the funds provide the most benefits for those who need them, as well as the best value for taxpayers. The trust will be established by this summer, and application details will be available then.
Providing one-time transition funding will help workers and contractors build new futures as the forest industry reshapes itself to achieve long-term revitalization. This will ultimately create a stronger economy for the province, and will generate revenue to pay for public services that benefit all British Columbians.