The Hodgman majority Liberal Government has a mandate to drive business investment and create real jobs for Tasmanians, including rebuilding the forestry industry and supporting the 5,700+ people it employs.
The Annual Reports of both Sustainable Timber Tasmania (STT) and Private Forests Tasmania paint a picture of a growing, sustainable industry.
STT has announced a statutory profit $34.9 million, which follows a similar result in 2017/18, with an underlying net profit of $11.8 million, up from $5.9 million from the previous year.
The business has contributed a special dividend of $15 million to the State Budget and will pay a further $2 million dividend based on the 2018/19 result.
STT was significantly impacted by the 2018/19 bushfires and I commend the efforts of all employees and contractors who worked hard to protect forest values and communities over a long period.
The business did a fantastic job in getting all of its harvesting contractors impacted by bushfires back to work within a fortnight and maintaining wood supply to its customers.
STT is important to regional communities, supplying 53 Tasmanian businesses with forest products and paying $53 million to harvest and haulage contractors.
In further good news, the Private Forests Tasmania annual report shows the total private forest harvest rose for the seventh consecutive year to 4.35 million tonnes, up from 1.11 million tonnes in 2011/12.
The private forest estate’s contribution to Tasmania’s total forestry production also continues to increase, up from 58% in 2013-14 to 75% in 2018-19 as it continues to support economic growth for regional communities and the state more generally.
The Hodgman majority Liberal Government has been working hard to turn things around since the disastrous Labor-Green job-destroying era, and we are committed to ensuring the industry continues to grow.
Our Strategic Growth Plan for Tasmania’s forests, fine timber and wood fibre industry provides a clear pathway for industry to grow, delivering and supporting forestry jobs.