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The Federal Government will invest $300 million in the future of the forestry industry as part of a Timber Fibre Strategy which sets out a pathway for the future growth of the industry. Source: Timberbiz The Timber Fibre Strategy sets out 128 ambitious actions for industry and governments to help build a sustainable, world leading sector with products that are in demand domestically and internationally. The Strategy’s development was led by the Government’s Strategic Forest and Renewable Materials Partnership and guided by close consultation across the forestry sector. The Timber Fibre Strategy charts a course for the forestry industry to embrace the future and help solve challenges facing the forestry industry, and the nation. A key opportunity identified in the Strategy is for the forestry sector to play a bigger role in tackling Australia’s housing challenges and delivering on the Government’s ambitious housing agenda. The $300 million investment includes: More than $100 million for transformative research, development and innovation for the timber industry through Australian Forest and Wood Innovations, More than $100 million to support the medium and long-term sustainability of our wood processing sector through the Accelerate Adoption of Wood Processing Innovation program, More than $73 million to expand Australia’s future wood supply through the Support Plantation Establishment program, and $10 million in the industry’s training needs through the Forestry Workforce Training Program. The Strategy also includes six priority areas and sets out 128 actions which cover and address key issues facing the sector: Building sovereign timber fibre manufacturing capability and capacity Meeting demand for timber fibre resources Healthy forests, actively managed Attracting and engaging people and other industry enablers Supporting and growing regional communities Innovating the timber fibre value chain The Government will work closely with the industry, and with states and territories, to respond to the Strategy. The Timber Fibre Strategy is available at: https://www.agriculture.gov.au/agriculture-land/forestry/industries/strategic-forest-and-renewable-materials-partnership/timber-fibre-strategy

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