GLOBAL NEWS — A new study of B.C.’s forest industry says the sector plays a big role throughout the province and is larger than most people think.
Released this week by the B.C. Council of Forest Industries (COFI), the study says forestry generates “significant economic activity in every region of the province.”
Specifically, the study says that, in 2019, the provincial forest sector supported more than 100,000 jobs, generated more than $13 billion in gross domestic product (GDP) and nearly $8.5 billion in wages, salaries, and benefits.
“This study demonstrates again that B.C.’s forest products sector is an important part of the provincial economy, putting paychecks in people’s pockets, helping small businesses pay their bills and supporting a good quality of life for British Columbians,” Susan Yurkovich, COFI president, and CEO said in a press release.
“The industry contributes to the well-being of communities from the Cariboo to the Northeast, from the Island to the Lower Mainland and Southwest part of our province, where nearly half the jobs supported by the forest sector are located.”
Released by the B.C. Council of Forest Industries, the study said the forest sector generated more than $13 billion in GDP in 2019 and nearly $8.5 billion in wages, salaries, and benefits.
The study added that forestry added more than $4 billion in government revenue to support health, education, and other important social services. Additionally, the study found that between 2009 and 2019, forest industry companies invested about $14 billion in their B.C. operations.
According to COFI, the data was largely sourced from Statistics Canada and was reviewed to confirm accuracy.
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