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The Atlantic province’s forestry sector is being given a thumbs up in a recent report by researchers from the University of New Brunswick (UNB) and Natural Resources Canada (NRCan).

Entitled Atlantic Canada’s Forest Industry, the report paints an optimistic picture of the sector, noting that forests are increasing in value because of their ability to produce sustainable energy, by-products, and environmental benefits, in addition to traditional forest products such as paper and lumber.

Authors Don Floyd of UNB and Rajendra Chaini of NRCan believe that Atlantic Canada’s forest sector has many strengths, including best-in-class forest management technology and expertise, a robust forest with diverse species composition, opportunities for policy innovation due to the relative abundance of private forestland, well-developed infrastructure, and strong forest research and education programs.

“Some of the things we found out are messages that don’t typically get out in the media,” Floyd said. “One is that New Brunswick’s forests are becoming more valuable all the time.

“It’s the combination of all the goods and services, as well as the traditional forest products, plus the potential of the bio-economy that, I think, really bodes well for the industry.”

While it’s true that a lot of forestry-related jobs have been lost through shutdowns, the economy is moving towards the point where changes are going to be occurring — particularly on the solid wood side, Floyd said.

The U.S. housing market will not stay depressed forever, he said, and there’s reason to be optimistic about softwood prices over the next four or five years.

“There are opportunities abroad but certainly there are going to be opportunities in Canada, too,” Floyd said. “If people can hold on for another 18 to 24 months, I think we are going to be in a much happier situation.”

The report also contained good news for Fredericton.

Floyd said the city possesses one of the best forest technology and science clusters in eastern Canada and that’s where new ideas and processes are going to evolve.