First Nations Consortium Announces Study of a New State-of-the-Art Wood Processing Facility on the B.C. Coast

Iskum Investments is comparing three coastal locations as part of a study supported by a $1.275 million contribution from the Government of Canada 

Vancouver, British Columbia – August 4, 2026 – Iskum Investments Limited Partnership (Iskum), a consortium of coastal First Nations-owned businesses, today announced it is advancing the study of a new, state-of-the-art wood processing facility on the British Columbia coast. The study is supported by a $1.275 million contribution from the Government of Canada through Natural Resources Canada’s Indigenous Forestry Initiative (IFI). 

‘Iskum’ takes its name from the Chinook trade language and means ‘to take hold of.’ For the partners behind Iskum, it means taking hold of an opportunity. First Nations across the coast now hold more than 200 forest tenures, representing approximately 4.6 million cubic metres of allowable annual harvest. Iskum exists so that participating Nations can move from tenure holders to manufacturers, turning access to fibre into ownership of a wood processing facility that manufactures products for domestic and international markets. 

A facility of this kind would be designed to strengthen the entire coastal economy, including supporting pulp and paper operations that are struggling to secure a reliable, economic supply of fibre. A modern wood processing facility would provide a steady, long-term source of the chips and residuals they need, while also creating a dependable domestic market for underutilized coastal species. 

The proposed facility would be purpose-built to process second-growth logs, principally hemlock and balsam, often exported as unprocessed logs. Preliminary work indicates that its economic footprint would be significant. Construction would require thousands of hours of work. At full capacity, the wood processing facility would support more than 700 full-time jobs across the coastal economy, including in operations, management, harvesting, and logistics. It would also generate additional community benefits through local business activity. The study will test and refine those estimates. 

Wood processing facilities of this kind are the standard in the world’s most competitive lumber regions. The British Columbia coast requires modern capacity built for the second-growth forests of the future. This facility would be majority-owned by First Nations whose businesses hold coastal tenure, aligning fibre and manufacturing under First Nations ownership to create more value from coastal wood here in Canada. By serving customers in Canada and international markets, it would reduce the coastal forestry sector’s dependence on old-growth forests, reduce the export of unprocessed logs, diversify markets and build a more resilient sector. 

The study builds on substantial work already completed, including preliminary design developed with experienced equipment suppliers. Iskum is now conducting a comparative analysis of three coastal locations. No site has been selected, and the study will inform a future investment decision by Iskum’s partners. 

The study aligns with the federal and provincial direction for the forest sector: create more value from B.C. fibre, support greater sector stability and expand access to global wood products markets. Iskum’s goal is to invest in the coastal forest sector to create lasting prosperity for First Nations, workers and communities, and strengthen British Columbia’s and Canada’s economy.
 

QUOTES 

“Our Nations are investing our own capital in this work, and we are grateful to the Government of Canada for standing with us at this stage. We also recognize the Government of British Columbia for its early support in helping establish Iskum. This study is a first step, undertaken with care and diligence, toward building something that will serve our communities, the coastal communities around us, and future generations. It reflects what is possible when First Nations come together, not only to help grow the economy, but to share in its prosperity and help shape a stronger future for the benefit of all Canadians.” 

• Sayaač̓atḥ John Jack, Chief Councillor of Huu-ay-aht First Nations, a founding partner of Iskum Investments 

“This study will advance Iskum’s assessment of a modern, state-of-the-art wood processing facility that can compete globally and help position Canada to serve both domestic and international markets. As governments work to address Canada’s housing shortage with Canadian wood, that demand should be met by Canadian suppliers, and First Nations-owned manufacturing operations should be part of that future. This study is an important step toward our goal of investing in coastal B.C. and creating jobs for people who live and work in coastal communities.” 

• Rick Doman, Chair of the Board of Iskum Investments 

“Nation-owned businesses see an opportunity to strengthen British Columbia’s coastal forest sector for generations to come. We are diligently assessing this opportunity with a long-term vision, guided by both sound business principles and ancestral knowledge. First Nations are no longer simply participants in Canada’s economy, they are strategic partners, investors, and builders of resilient industries that create lasting prosperity for our communities and the country.” 

• Renée Olson, Interim Chief Executive Officer of Khowutzun Development Corporation, a Cowichan Tribes owned business and a partner in Iskum Investments 

“NEDC has stood behind First Nations enterprises on the coast for more than four decades. Iskum reflects what that long-term support has been working toward: Nations pooling the strength of their businesses to participate in the next stage of the coastal forest economy and pursue lasting prosperity, together.” 

• Al Little, General Manager of the Nuu-chah-nulth Economic Development Corporation (NEDC) 

“A facility of this kind has the potential to create work for contractors, trucking companies, suppliers and trades. Nation-owned businesses are well positioned for that opportunity, as are the coastal companies and workers who have carried this industry through difficult years. The aim is to help keep that work here. When First Nations businesses grow, it strengthens surrounding communities, British Columbia and all of Canada.” 

• Emchayiik Robert Dennis Sr., Chair of the Chiefs Committee, Iskum Investments 

“Indigenous Peoples are leading innovative and sustainable approaches to forest stewardship and economic development across British Columbia. Our investment in this project is just one way our government is supporting Indigenous-led initiatives that will create long-term economic opportunities, strengthen community capacity and help ensure the forest sector remains a source of prosperity for generations to come.”

• Wade Grant, Parliamentary Secretary to the Minister of Environment and Climate Change and Member of Parliament for Vancouver Quadra 

“We’re working to restore confidence in the coastal forest sector. These communities have been the pillars of forestry – they’ve also felt the impacts of the immense challenges we’re facing. This announcement brings hope to the region, with the potential of hundreds of jobs, greater fibre flow and a stronger local forest economy. We will continue to work alongside the federal government to support B.C. forestry workers.”

• Ravi Parmar, B.C.’s Minister of Forests
   

QUICK FACTS 

• Iskum Investments is a consortium of coastal First Nations-owned businesses from across Vancouver Island and the British Columbia coast. 

• The Government of Canada is contributing $1.275 million to the study through Natural Resources Canada’s Indigenous Forestry Initiative. 

• Iskum’s comparative analysis includes three coastal locations. No site has been selected. 

• The facility would be purpose-built for second-growth logs, principally hemlock and balsam. Together, these species account for roughly 50% of the coastal forest. The facility would serve customers in Canada and international markets. 

• The processing facility could produce structural kiln-dried lumber for high-value Canadian and international markets, including applications in engineered wood products. 

• At full capacity, the facility would support over 700 ongoing jobs across the coastal economy, with more than 180 person-years of work during construction. 

• First Nations on the coast hold more than 200 forest tenures, equating to approximately 4.6 million cubic metres of allowable annual harvest. 

• The study will inform a future investment decision by Iskum’s partners.

ABOUT ISKUM INVESTMENTS 

Iskum Investments is a transformative partnership of coastal First Nations-owned businesses from across Vancouver Island and the British Columbia coast, working together to advance economic reconciliation and build a stronger coastal forest economy. By bringing together the strength, expertise and investment capacity of participating Nations, Iskum is pursuing large-scale opportunities that rebuild coastal manufacturing capacity, create lasting prosperity for First Nations, workers and communities, and strengthen British Columbia’s and Canada’s economy. Iskum’s current focus is a study of a modern small-log manufacturing facility, a first step designed to create more value from coastal forests, support jobs and communities, and build a more competitive and resilient forest sector. Learn more at iskum.ca.