Timber processing firms in Northland, New Zealand, have seen profits soar by NZ$40m and 149 new jobs created in the past year.
The industry predicts further growth if problems such as the rising New Zealand dollar, lack of skilled workers and poor roads can be overcome.
A recent survey of six Northland-based wood processing companies showed that they directly employed 519 people and generated NZ$128m in turnover in the past year.
Their aggregate turnover increased by 45% – from NZ$88m to NZ$128m – in a year and, over the same period, the companies increased their combined workforce from 370 to 519 people.
The six companies processed 315,000m3 of wood during the 12-month survey period – a 37% increase – and grew export revenue from NZ$45m to NZ$59m – a 31% rise.
A 300% increase in wood harvested in Northland is anticipated over the next four of five years which will mean a lot more wood for processing.
