Government of Canada launches $500 million in support for retooling Canada's forest sector
TRACYVILLE, NB, Feb. 25, 2026 /CNW/ - The forest sector is a lifeline for communities across the country and an important pillar of Canada's economy. In the face of unjust U.S. trade measures, the Government of Canada is taking decisive action to support the forest sector, protect workers and their jobs, and give Canadian companies the stability they need to weather short-term shocks and retool for a stronger, more diversified future.In August 2025, Prime Minister Mark Carney announced a series of new measures to help the forest sector transform and remain competitive. These measures will help unlock the full potential of our industry as the federal government scales up housing and major infrastructure construction and drives long-term economic growth, rooted in Canadian resources and innovation. These measures were followed up by additional support and the launch of the Canadian Forest Sector Transformation Task Force, which began its work in January 2026.Today, the Government of Canada is taking the next step to support and retool our forest sector. The Honourable Tim Hodgson, Minister of Energy and Natural Resources, launched a national Calls for Proposals under Natural Resources Canada's forest sector transformation programs, supported by a $500-million commitment.Eligible businesses and organizations can now apply for funding through:The Investments in Forest Industry Transformation (IFIT) programThe Green Construction Through Wood (GCWood) programThe Indigenous Forestry Initiative (IFI)The Global Forest Leadership Program (GloFor)These programs will help Canadian companies ...Full story available on Benzinga.com
