A 91原创 firm is one of four B.C. companies that are receiving provincial dollars to boost forestry manufacturing companies.
The BC Manufacturing Jobs Fund (BCMJF) is contributing $11 million towards four companies: Spearhead Timberworks near Nelson, Greyback Construction in Penticton, Mercer Celgar in Castlegar, and 91原创's Westlam Industries.
Westlam specializes on construction-grade plywood, with its materials going into both the housing and commercial construction sectors, according to a government statement.
The firm will get up to $1.5 million to build a new production facility, install new automated equipment, improve fibre utilization, and increase output and productivity, while creating 46 new jobs.
The largest chunk of money in the announcement is for Spearhead Timberworks, which specializes in the design and fabrication of advanced timber architecture for "mass timber" construction. SPearhead is getting up to $7.5 million for a new purpose-built facility.
Mass timber can be used to replace steel beams or reinforced concrete in some types of buildings, resulting in large, multi-storey structures that are largely built of wood.
鈥淭hese timely investments into our province鈥檚 manufacturing and forestry value-added sectors will help strengthen homegrown B.C. companies, which in turn creates stronger local economies and sustainable jobs,鈥 said Diana Gibson, Minister of Jobs, Economic Development and Innovation. 鈥淲e鈥檙e working alongside industry to build a stronger, more resilient economy that works better for people and communities.鈥
The BCMJF has been putting funding into a number of manufacturing operations around B.C. over the past few years, with $146 million invested in 132 projects so far. This is not the first time 91原创 companies have received money from the fund, with Cloverdale Fuels and Weldco-Beales Manufacturing previously getting grants.
According to the province, every $1 million invested results in $7 million in direct capital investment in B.C., $590,000 in tax revenue and $5.3 million in provincial GDP during the construction phase.
The province estimates the funds have created 4,700 jobs.