The forest sector is important to the Island and Coast economy and there is strong potential for growth in the secondary wood manufacturing subsector. The value-added wood manufacturing subsector includes over 100 innovative and entrepreneurial small- and medium-sized businesses on the Island, which are strong contributors to the regional economy. These businesses manufacture a diverse range of specialty products that maximize the value of BC’s forest resource and are an important element of diversification within the forest sector. Working as a collective group there is an opportunity to develop growth and market-expansion strategies and promote the economic significance of the sector.
The Vancouver Island Economic Alliance (VIEA), in partnership with BC Wood and Canadian Wood Council, will focus on specific activities to enhance the wood-based value-added sector. These include an inventory of Vancouver Island’s value-added firms and an assessment of the economic impact and multiplier effect of those businesses to local communities. The project also includes a report detailing “Transformative Investment Opportunities” for potential projects such as a glulam plant, wood insulation manufacturing, or pressure treatment operation.
The results of this project will provide the region with some of the basic information and tools required to strengthen the forestry sector by increasing the profile of existing businesses, supporting the growth of existing businesses and attracting new value-added manufacturing businesses to the region. The project was completed in December 2017.