Forest Industry Jobs and Economic Impact Increasing

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A new report on Nova Scotia’s forest industry shows recent increases in the number of people employed and in economic activity.

Natural Resources Minister Lloyd Hines welcomes the report, which was released this week by Forest Nova Scotia.

“Forestry is a long-standing economic driver in Nova Scotia, which is now generating more than $2 billion in economic activity,” said Mr. Hines. “This is a strong recovery for the forest sector and the government wants to see it continue to grow good jobs in the province.”

The report shows that the economic impact of the industry is $410 million in direct gross domestic product, $275 million in income in the pockets of Nova Scotians, 6,100 direct jobs and another 5,400 spinoff jobs.

Employment in Nova Scotia’s forest industry has increased four per cent from 2012 to 2014.

The independent report was produced by Gardner Pinfold Consultants Inc.

Other highlights of the report include:
— $800 million contribution to provincial gross domestic product. It was $575 million in 2012
— forest products industry ranks fifth in Nova Scotia’s contribution to gross domestic product in the goods producing sector
— forest products industry ranks second in Nova Scotia’s jobs in goods producing sector
— forest products industry ranks third in Nova Scotia’s exporters in goods producing sector

The report is available at http://forestns.ca/.

The industry recovered from a global financial crisis which led to major mill closures and Nova Scotia’s export of wood products and pulp and paper reached $700 million in 2015.

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Source: Release