Corner Brook Pulp and Paper is receiving over $442,000 in funding from the federal government to study diversification opportunities related to the bioeconomy.
The project will focus on minimizing risks related to the decline in demand for newsprint, and ensure the mill’s longevity in Newfoundland and Labrador’s forestry supply chain.
The province employs 1,125 direct and indirect forestry jobs in a variety of sectors such as transportation, equipment, and maintenance.
Funding for this project is provided through the Investments in Forest Industry Transformation (IFIT) program, which encourages the Canadian forest sector to implement unique technologies and produce new forest products for emerging markets.
“As the only remaining pulp and paper mill in Newfoundland and Labrador, Corner Brook Pulp and Paper Limited has an opportunity to grow and diversify with the changing markets, delivering economic and environmental benefits to the local community and surrounding region,” says Seamus O’Regan, Canada’s minister of natural resources, in a statement.