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The Victorian Forest Products Association (VFPA) has warmly welcomed the Victorian Government’s announcement of a new $12 million Timber and Fibre Innovation Fund, describing it as a strong commitment to the future of Victoria’s forestry, plantation and wood fibre industries. Source: Timberbiz The new fund will support innovation, advanced manufacturing and future investment across the sector. VFPA Chief Executive Officer Andrew White said the new fund represented an important step towards growing and strengthening Victoria’s wood fibre industries, but further investment was also needed to make the significant transformational changes needed over the next decade. “This is a positive investment in Victoria’s wood fibre manufacturing sector and a strong signal that our industry has a critical role in delivering housing and wood fibre products that Victorians need,” Mr White said. “The Timber and Fibre Innovation Fund recognises the critical role Victoria’s plantation forestry and wood fibre manufacturing industries play in regional economic development, housing, advanced manufacturing and the transition to a lower-carbon economy. “Importantly, this fund moves beyond supporting industry transition and focuses on supporting transformation, innovation and growth within the sector, through equipment upgrades, process improvements and new innovations.” The TFIF expands on previous government funded programs by opening eligibility to businesses and organisations involved with both softwood and hardwood manufacturing across Victoria. The fund will provide grants during the second half of 2026, ranging up to $1 million per grant, and support projects that improve productivity, develop new products, commercialise innovative ideas and strengthen domestic manufacturing capability. “Victoria is home to Australia’s largest plantation estate and a diverse range of timber processors, but we need to bring down costs and support these businesses to be successful given the current tough market conditions facing the industry,” Mr White said. “Investment in innovation helps ensure more of that value is created here in Victoria, supporting regional jobs, sovereign manufacturing capability and stronger domestic timber supply chains. “Creating new markets and new manufacturing opportunities for innovative product types, at the same time as supporting our existing manufacturing base is critical,” he said. While welcoming the announcement, VFPA said the fund should form part of a broader long-term vision for Victoria’s wood fibre sector. “The Timber and Fibre Innovation Fund is an important first investment that aligns strongly with our call for a new Victorian Government-led 10-Year Wood Fibre ‘Action Plan’ and Strategy,” Mr White said. “Victoria has the resource base, the manufacturing capability and the expertise to become a national leader in sustainable wood fibre production and advanced timber manufacturing. “With the right long-term policy settings, there is a huge opportunity to grow regional jobs and increase plantation investment to ensure we can meet Victoria’s future housing, packaging and construction needs.”

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