“The record profits resulted from an increase in our allowable cut, a very strong market for our timber and some sound strategic decisions”
By Chris Bolster
Powell River Community Forest president Greg Hemphill presented City of Powell River council with a dividend of just under $2 million on Monday, May 29, for the city’s reserve fund. 2016 was a banner year for Powell River Community Forest, a city-owned logging company with a timber licence to harvest trees east of the city. “The record profits resulted from an increase in our allowable cut, a very strong market for our timber and some sound strategic decisions,” Hemphill told council and the gallery full of funding recipients from the community. The company operates with a volunteer board appointed by city council. All its profits are returned to the city in the form of an annual dividend. “We’re pleased with the projects we’ve accepted,” said Hemphill. “We think it’s a good mix of sizes and themes.” Including the 2016 dividend, community forest has injected a little more than $8.5 million into the city over the past 11 years.