Victorian Minister for Agriculture, Ros Spence, has announced $10 million as part of the Victorian Plantation Support Program to establish new long-rotation timber plantations to fast-track forestry sector growth in the state.
This additional funding will be for projects approved under select rounds of the Commonwealth’s Support Plantation Establishment Program.
Victorian growers looking to develop new plantations can receive up to $1,000 per hectare under the program to assist with plantation establishment activities. Combined with the Commonwealth program, new plantations of 20 hectares or more in Victoria can receive up to $3,000 per hectare, with a cap of up to $200,000 per project.
“Demand for timber is expected to quadruple globally over the next 50 years and we’re making sure Victoria has a secure supply,” said Minister Spence.
“Victoria is already home to the nation’s largest plantation estate, and this funding will continue to strengthen our thriving and resilient timber industry.”
As the winter planting season draws to a close, approximately 2.4 million tree seedlings have been planted this year through the Gippsland Plantations Investment Program by Hancock Victorian Plantations. This year’s planting has brought the total number of trees planted to more than 3.5 million.
This program is the single largest investment in plantation establishments in the state’s history and will see up to 16 million trees planted over a 10-year period.
For more information visit agriculture.vic.gov.au/crops-and-horticulture/farm-forestry.
Quote attributable to Member for Eastern Victoria Tom McIntosh
“This investment supports regional jobs and boosts local timber supply for more homes and timber products.”
Quotes attributable to Victorian Forest Products Association CEO Andrew White
“The planting of 2.4 million trees this year through the Gippsland Plantations Investment Program is a clear demonstration of what’s possible when government and industry work together.”
“This is a terrific new initiative that will help overcome the upfront barriers to new plantation establishment. This investment is critical to securing the timber required to build more homes for Victorians.”
