September 28, 2004 Campbell River, B.C. -- The Honourable Stephen Owen, Minister of Western Economic Diversification and Minister of State (Sport) today announced $8.9 million in funding for another 22 projects under the Softwood Industry Community Economic Adjustment Initiative. This funding will lead to over $26 million in new investments for B.C. communities. “ The Softwood Industry Community Economic Adjustment Initiative was created to help forest-dependent communities whose economies were impacted by the U.S. softwood tariffs,” said Minister Owen . “This funding allows communities to diversify their economies by producing value-added wood products, enhancing their tourism capacity, and expanding into new industries.” “Each community has its own strengths and priorities,” said Colin Kinsley, Mayor of Prince George and Chair of the Minister's Advisory Group for the Softwood Industry Community Economic Adjustment Initiative. “This program encourages communities to form the partnerships that are so critical to realizing local opportunities.” “British Columbia’s rural communities are deeply connected to their forests and the forestry industry,” said Ken White, Chair of the Community Futures Development Association of B.C. “This funding is a concrete example of the Government of Canada’s commitment to support community driven solutions and priorities of rural B.C. communities.” In British Columbia, the Government of Canada has committed $50 million in funding towards projects that will diversify and strengthen the economies of more than 120 communities. This investment will leverage an additional $97 million in funding from other sources bringing the total investment in B.C., as a result of this program, to $147 million. The Softwood Industry Community Economic Adjustment Initiative is a national program funded with $110 million. The deadline for applications was June 2, 2003. All approved projects must be fully completed and funds expended by March 31, 2005. Western Economic Diversification Canada administers the Softwood Industry Community Economic Adjustment Initiative in partnership with the Community Futures Development Corporations of B.C. Western Economic Diversification Canada is the federal department mandated to support economic diversification in communities across Western Canada through activities that promote and assist Innovation, Entrepreneurship, and Sustainable Communities. Project funding is conditional on the confirmation of partnership funding and the positive outcome of a federal environmental assessment. Funding for these projects was provided for in the March 2004 federal budget. Backgrounder -- Softwood Industry Community Economic Adjustment Initiative For additional information, contact: Susan Schooley Communications Manager Western Economic Diversification Canada Vancouver, B.C. (604) 666-1318 www.wd.gc.ca Renée Gillen Press Secretary Office of the Minister of } Western Economic Diversification Canada Ottawa, Ont. ( 613) 954-1110
