Forest & Wood Products Industries’ Economic Contributions: Vermont
The Northeast-Midwest State Foresters Alliance, Forest Markets & Utilization Committee, in cooperation with the state forestry agencies in 20 Northeast and Mid-Western states, recently released a series of reports characterizing the economic contributions of the forest and wood products industries in the individual states and the region. The reports were produced as part of a 20-state project supported by a U.S. Department of Agriculture Forest Service, 2017 Landscape Scale Restoration Grant, administered by the Michigan Department of Natural Resources, Forest Resources Division.
The state report assesses broad forest conditions and economic contributions of the forest products industry in Vermont and provides an improved assessment of forests and the economies they support. It presents several measures of the industry’s contributions to Vermont’s economy including number of full-time and part-time jobs, labor income, value-added (Gross State Product, abbreviated as GSP) and output (sales). Forest data were provided by the U.S. Forest Service’s Forest Inventory and Analysis Program, and economic data come from the 2017 Impact Analysis for Planning (IMPLAN), a commercially available economic input-output (IO) model.
In 2017, the forest and wood products industries in Vermont provided direct employment to over 9,100 people (including maple syrup production) leading to $1.4 billion in output, in 2017. Labor income was $291.5 million and value-added was $393.4 million. In terms of total contributions (including multiplier effects), the industry supported over 13,800 jobs, $521.9 million in labor income, $770.8 million in value-added, and $2.1 billion in output.
The full state and regional reports, as well as a series of short fact sheets, can be accessed on the Northeast-Midwest State Foresters Alliance website.
Northern Logger App Released
The Northern Logger App, a loggers’ reference tool formatted as a mobile-friendly web app, has just been released by the Northeastern Loggers’ Association (NELA) and is available as a free download here. The app was developed by the NELA and their contractor, Dr. Steven Bick, the Vermont Dept. of Forests, Parks, and Recreation through the “No Markets No Management” U.S. Department of Agriculture Forest Service 2019 Landscape Scale Restoration Grant.
The mobile and desktop version of the app can be found here and an instructional webinar was recorded and is available on-demand by clicking here. Please contact Paul Frederick, Forest Economy Program Manager, or Steve Bick, Northeast Forests, LLC, for more information.
Additional COVID-19 Relief for the Forest Products Industry… From Eric Kingsley, Innovative Natural Resource Solutions LLC & Forest Resources Assoc.
“For any loggers, mills or others that saw a decline in gross revenue of 25% or more in any quarter of 2020 (when compared to 2019), you are likely eligible for a second Paycheck Protection Program (PPP) forgivable loan. I have spoken to a number of forest industry firms that have applied for a second PPP loan, and encourage you to speak with your bank if you think you may qualify. The program expires at the end of March, so don’t wait too long.”
“In addition to the PPP loan provision, which applies to all industries, Congress provided up to $200 million in relief specifically for loggers and forest product truckers. This relief is targeted at logging and trucking firms that have seen a decrease in gross revenue of at least 10% during 2020, when compared to the company’s gross receipts in 2019.”
“This funding will be administered by the U.S. Department of Agriculture and is expected to develop rules in January for a program roll-out in late January or February of 2021.”
More information is available here.
As of this date, no details related to the program have been released by USDA. It appears that the Farm Services Agency will administer the program but that has yet to be confirmed.
