Prince George, B.C.- The Federal Government is rolling out its Community Adjustment fund which is aimed at supporting those communities which have a single industry, such as forestry.  B.C.’s share will be $125 million dollars.

 

 “The global recession has severely affected many individuals and families, especially in communities that depend on single industries such as forestry,” says the Honourable Lisa Raitt, Minister of Natural Resources. “The Community Adjustment Fund will inject new money as quickly as possible into communities across Canada in order to create jobs and support economic renewal in the communities that are hardest hit.”

 

The Community Adjustment Fund will deliver a total of $1 billion over two years to local economies throughout Canada.

 

Projects to be funded could include reforestation activities, investments in machinery or equipment, demonstration of new mining technologies and initiatives to improve market access for products.

The Community Adjustment Fund will also build on the ongoing work of existing federal programs and initiatives, such as the $1-billion Community Development Trust, the $170-million fund for forest products market diversification and innovation, and various programs delivered by Canada's regional development agencies.