Forestry Innovation Rebate Program Disclosures - 2020/21
Tuesday, February 2, 2021
The following Forestry Innovation Rebate Program incentives were announced during the fiscal year of 2020-2021.
February 2, 2021
Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of a forestry innovation rebate for Great Northern Timber Resources Inc.
Based in Halifax, Nova Scotia, Great Northern Timber Group produces various grades of hardwood and softwood chips at its Sheet Harbour mill for delivery around the world. As part of the group, Great Northern Timber Resources has been manufacturing premium wood pellets since reopening the Musquodoboit pellet mill in 2017.
The company will be proceeding with a $7,227,720 capital investment to upgrade the Great Northern Timber Resources wood pellet mill. This investment will enable the company to improve productivity, efficiency, and capacity at the pellet mill. Changes will include installing equipment and storage through the addition of an electrical grinder, upgrade of utilities/controls and the fibre dryer, as well as the construction of a premium pellet storage shed.
These upgrades will help meet increased demand for products throughout local, national and international markets. The company is eligible to earn a maximum forestry innovation rebate of $1,806,930 upon completion of its project, based on eligible capital spending of $7,227,720.
Jeff Kavanaugh, CFO
June 16, 2020
Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of a forestry innovation rebate for The Shaw Group Limited. Based in Hardwood Lands, Nova Scotia, The Shaw Group Limited under its Eastern Embers brand, manufactures wood pellets for residential and commercial heating. Eastern Embers has been manufacturing premium wood pellets made from local sawmill residuals for over 25 years.
The company will be proceeding with a $1,287,650 capital investment to upgrade the Eastern Embers wood pellet manufacturing facility. This investment will enable Eastern Embers to safely process new available fiber. Changes will include an upgrade to its power system and an addition of new equipment to process wood chips. Employment will be added as a result of the investment.
These upgrades will help meet increased demand for products throughout local markets and throughout Canada. The company is eligible to earn a maximum innovation rebate of $321,913 upon completion of its project, based on eligible capital spending of $1,287,650.