The forest industry is more important than ever to the wellbeing of Nova Scotia’s economy, according to financial experts. Back in September, Forest Nova Scotia executive director Jeff Bishop stated that the forest industry was responsible for $2.1 billion worth of economic output for the province in 2015. These numbers were generated by studies conducted by Halifax consulting firm Gardner Pinfold in association with Northern Pulp, one of the largest forestry operations in Nova Scotia. Here is some more information about this illuminating new study and what these findings could mean for local woodlot owners.
Forestry: A Key Component of Economic Growth
The results of this comprehensive study, conducted over the past few years across the province, demonstrate that the forest industry is a key component to continued economic growth in Nova Scotia. According to this research, the $2.1 billion worth of economic activity from the forest industry in 2015 is up from $1.5 billion worth of economic activity in 2012. The industry contributed $800 million to the province’s Gross Domestic Product last year compared with $575 million in 2012. An increase that drastic in only three short years exemplifies how important the forest industry is to the economic prosperity of the province.
What Does This Study Mean For Local Woodlot Owners?
Bishop sounded hopeful about this exciting economic development when addressing a crowd in Truro back in September. However, many local woodlot owners are concerned about the environmental threat of large-scale forestry. That’s why it’s important for woodlot owners to introduce sustainable forestry manufacturing process—not only will this help protect the environment; it will also create the foundation for a forest industry that will be able to thrive for many years to come.
This is an exciting time to be a part of the Nova Scotian forest industry. With the right preparation and environmentally-conscious decision making, this period of economic growth could lead to a sustainable and prosperous future for woodlot owners across the province. If you’re a woodlot owner in need of support, contact us today for professional and comprehensive woodlot management services including timber marketing and silviculture, and help your woodlot reach its full potential.