$150 MILLION BOOST FOR AUSTRALIA’S FORESTRY INDUSTRY

The Federal Government is committing $150 million to five new funding streams aimed at modernising Australia’s forestry industry and supporting regional jobs.

The funding will provide up to 85 million dollars for large-scale investment in modern wood processing and value-adding, with a further $30 million available for innovation and improving efficiency across the supply chain.

Another $15 million will support forestry workforce development and regional career pathways, while an additional $15 million will assist plantation establishment and increase domestic fibre supplies.

The remaining five million dollars will strengthen checks on forest product imports and help reduce the risk of illegally logged timber entering Australian supply chains.

Agriculture, Fisheries and Forestry Minister Julie Collins says the measures will support more secure jobs, better pay and higher-value production, particularly in regional Australia.

The funding forms part of the $300 million Forestry Growth Fund, which also includes $150 million in concessional finance for advanced manufacturing investment.