New Federal Initiative Targets Wildfire Risks Near Forests
As wildfires become more severe each year, efforts are underway to mitigate their impact. A fresh federal initiative seeks to bolster sawmills and wood processing units in areas prone to forest fires, particularly around national forests and tribal territories.
The Timber Production Expansion Program is designed to lend crucial support to these facilities. Businesses in high-risk zones can secure up to $25 million for constructing, upgrading, or reopening wood processing sites. The Department of Agriculture is poised to back these loans, guaranteeing up to 90% of the borrowed amount.
According to the Department’s Rural Business-Cooperative Service, this strategic investment is expected to aid in thinning vegetation, thereby cutting down on ecological restoration costs and reducing the threat of wildfires.
Moreover, the initiative is financially supported by a $200 million allocation from the 2021 Infrastructure Investment and Jobs Act, which anticipates a boost in employment opportunities resulting from these developments.
Interested businesses can submit their applications beginning December 26.
