The Albanese Labor Government is continuing to back Australia’s forestry sector and is today announcing new grants and initiatives that will be delivered through the Forestry Growth Fund.
The Government will be investing $150 million in five key streams to help modernise Australia’s forest industry, support more well-paid, secure jobs and rural communities, strengthen innovation and industry modernisation, secure a sustainable fibre supply, and increase our sovereign capability to produce high-value products to support housing and construction.
Through this funding the Albanese Labor Government will deliver the following:
- Up to $85 million to encourage forestry industry transformation through investment in modern wood product processing and value-adding through large-scale grants that significantly transform manufacturing capabilities and innovative facilities;
- Up to $30 million to encourage forestry industry innovation to promote greater efficiency and productivity across the supply chain;
- Up to $15 million to build forestry workforce capacity, to continue supporting well-paid regional jobs, with clear forestry career pathways and safe and high-performing workplaces;
- Up to $15 million additional support for plantation establishment to boost the supply of domestic forest resources for our nation’s manufacturing and construction needs; and
- $5 million to strengthen the integrity of forest product imports by developing and using tools to support compliance with Australia’s illegal logging laws and reduce the risk of illegally logged or conflict timber entering our supply chains.
These investments will support the forestry industry and workforce of the future – one which is at the centre of our Government’s national goals including a Future Made in Australia and our $47 billion Homes for Australia plan.
The design of these investments has been informed by consultation across the forestry industry, unions, communities and state and territory governments.
This will ensure the Government’s investment reflects the sector’s key priorities and supports a stronger forestry industry, more secure jobs, better pay and increased production of high-value products. It will also help ensure workers remain an important part in shaping the future of Australia’s forestry industry.
Grant development is now underway, with first grant opportunities to open in the coming months.
These new measures are part of the $300 million Forestry Growth Fund and support delivery of the Timber Fibre Strategy.
The Fund also includes $150 million in concessional finance to support advanced manufacturing investments for wood-product processors, including mills and manufacturers. Applications for finance are open through the National Reconstruction Fund Corporation.
These investments bring our Government’s total forestry funding to $600 million.
Quotes attributable to Minister for Agriculture, Fisheries and Forestry, Julie Collins MP:
“Australia’s forestry industry has a bright future and our Government is committed to delivering new opportunities to make this happen.
“This will mean more secure jobs, better pay and high-value outputs, particularly in regional Australia.
“The investments we are announcing today demonstrates the Albanese Labor Government’s commitment to our world-leading forestry-sector, recognising the significant economic, environmental and social benefits it delivers for everyday Australians.”
