U.S. Department of Commerce Invests $3 Million to Expand Wood Product Industry in the Northeast United States
WASHINGTON – Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to the U.S. Endowment for Forestry and Communities, Inc. of Concord, New Hampshire, to establish a cooperative agreement to expanding markets for wood products.
“The Trump Administration is continually looking for new ways to aid American communities and workers by fully capitalizing on our country’s prevalent natural resources,” said Secretary of Commerce Wilbur Ross. “This project will help bring new materials and job creation, while helping expand a critical industry across the northeast.”
“This is exciting news for the northeast, but in particular for New Hampshire,” said Governor Chris Sununu. “These funds will allow us to explore expanding the market for wood products, an especially critical industry in northern New Hampshire. I would like to thank Secretary Ross for recognizing the importance of the industry, and I look forward to working with our federal partners and private partners to secure the long-term profitability and sustainability of this critical industry.”
“The wood product industry is critical to supporting job creation and boosting our state’s economy, and this federal grant will play a vital role in helping to expand markets for these products,” said Senator Hassan. “This collaboration between the Northern Border Regional Commission and other federal partners is a great example of the type of innovative partnerships we should be pursuing across industries in order to help support innovative businesses and expand economic opportunity.”
This investment will establish a cooperative agreement that will develop and implement a strategy growing the market for these products across the Northern Forest region of Maine, New Hampshire, New York, and Vermont. The U.S. Endowment for Forestry and Communities, Northern Forest Center, and EDA will collaborate with the Northern Border Regional Commission to assess the supply and demand for wood products, develop a strategy for expanding their markets, and provide funding through sub-grants for projects that support the growth of the industry.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.