The Institute will support the diversification of the industry and the economy by carrying out research that will lead to a more profitable and sustainable hardwood sector with the capacity to export highly competitive products to the global marketplace, thus generating jobs and contributing to the province’s long-term economic growth. Specific benefits will include:
Research undertaken at the Institute will form the basis for new programs and courses that will be taught at the UMCE, which will complement those already being offered by the University. These include both a bachelor’s and master’s degree in forestry, and a research program focused on the key areas of sustainable forest management including silviculture, forestry operations and economics, geomatics and ecology.
The Government of Canada’ is contributing $1,586,576, over five years to the project through the Atlantic Canada Opportunities Agency’s Innovative Communities Fund (ICF). The Government of New Brunswick will also be providing $1,586,576, while the Université de Moncton will contribute $528,858. Private sector companies (JD Irving, AV Nackawic, Groupe Savoie and Acadian Timber) will also invest a total of $528,858. Total project costs are $4.2 million.
The ICF focuses on projects that lead to long-term employment and economic capacity building in rural communities in Atlantic Canada. The program’s objectives are to improve community infrastructure, provide better access to skills training, and help communities overcome economic development challenges while taking advantage of their strengths.