Province helps fund expansion of St. Thomas mass timber manufacturer
The Ontario government has invested $3.5 million in funding to help expand the operations of the province’s first certified cross-laminated timber manufacturer.
Element5 will use the money from the province to more than triple production at its St. Thomas plant. In the process, it aims to create 32 new jobs, increase revenue by more than 300 percent and boosting export sales by nearly 600 percent.
“With more space and new equipment, Element5 will be able to meet growing demand for their high-quality products and get more building projects done quickly and efficiently,” said Natural Resources Minister Graydon Smith. “This company is an advanced wood construction success story, powering growth and development across Ontario, Canada and the U.S.”
Advanced wood construction assembles building materials off-site before installation, reducing on-site disruption, completing projects up to 50 percent faster and reducing costs by up to 20 percent. Advanced wood construction also offers environmental benefits, by using wood as a sustainable alternative to traditional building materials while supporting the forestry sector.
The Ontario government has released an action plan designed to expand wood construction in the province. The Advanced Wood Construction Action Plan positions Ontario to use more wood in the construction of mid-rise and tall multi-family residential, commercial and industrial buildings.
The province sees mass timber and wood construction for modular and prefabricated buildings as an essential component of achieving its goal of building 1.5 million new homes by 2031.
“With our sustainably managed forests, forest sector expertise and access to key export markets, Ontario has a unique advantage in wood construction,” said Nolan Quinn, Associate Minister of Forestry. “Our government’s action plan will use that advantage to expand the forest sector, create jobs and grow communities by building homes and businesses faster.”
Element5’s $23-million expansion project will help the company meet rising demand for mass timber construction materials, which is expected to increase by up to 25 percent annually during the next decade.
"The ongoing support from the province is a cornerstone of Element5’s strategic planning,” said company President and CEO Patrick Poulin. “More importantly, it reflects our shared vision to position Ontario as a leader in advanced wood construction and manufacturing, not only in Ontario, but across Canada and North America. This vision aligns seamlessly with our collective goals around intelligent natural resource use, affordable housing, and responsible environmental impact."
The investment in Element5 and the release of the draft action plan advances Ontario’s forest sector strategy goals – including increasing wood use and growing markets – by making more pre-manufactured building materials available to support faster construction across the province.