Annual community forest report highlights 2019 operations
On January 24, Powell River Community Forest Ltd. released it 2019 Annual Report to the Community as a four-page supplement in the Powell River Peak. The report can also be found on the PRCF website. The PRCF is an independent corporation set up by City of Powell River. It holds the Community Forest Agreement on behalf of the entire community. It is a for-profit forest company; what sets it apart, however, is that it invests 100 per cent of its profits in the community. At the start of 2019, the corporation knew it would be a challenging year for the coastal forest sector. With failing market conditions, high stumpage rates and the provincial government’s forest policy changes, a number of major forest companies were reacting by curtailing operations. …In 2019, the PRCF put $2.3 million into the Powell River economy through contracts and supply purchases from local companies.