Future Forest Economy Initiative

Informed by an investment strategy developed with 200 regional stakeholders, the initiative invested nearly $2.6 million in 13 projects. This five-year partnership benefitted 219 businesses, created and retained 53 jobs, and supported nearly $15 million in private investment. It helped commercialize at least 10 new forest products and services that are projected to generate demand for 8.1 million tons/year of wood at full implementation.

Highlights from some of the 13 grants awarded include:

• In one of the first uses of cross-laminated timber fabricated from lumber sourced in the Northern Forest, the new Jesup Library in Bar Harbor, Maine, will benefit from regionally sourced wood, a reduced carbon footprint, and increased carbon storage.
• The Feel Good Heat campaign aims for a 50% increase in low-grade wood used for heat by 2028 generating rural jobs and saving customers’ money.
• Economic impacts as high as $47 million plus 200 new jobs could be reaped in central New York as a result of the military’s decision to use domestically grown and manufactured low-grade hardwood, such as red oak, in place of tropical species for decking in trailers and vehicles.