USDA to provide relief to timber businesses
Published 4:15 pm Friday, July 30, 2021
By ZACHARY SEIFTER/ Staff Writer
The U.S. Department of Agriculture announced on July 20 that it will be giving up to $200 million to timber harvesting and timber hauling businesses that have experienced losses due to COVID-19 as part of its Pandemic Assistance for Producers initiative.
According to the press release, any company that wants to apply for the financial relief must be a timber harvesting or timber hauling business where 50% or more of its gross revenue is derived from “cutting timber, transporting timber or processing of wood on-site on the forest land (chipping, grinding, converting to biochar, cutting to smaller lengths, etc.).”
Those most encouraged to apply are businesses that lost at least 10% of their gross revenue between Jan. 1 and Dec. 1 of 2020.
“Like many facets of the agriculture industry, the logging industry has experienced its share of financial hardships throughout the pandemic,” said Farm Service Agency Administrator Zach Ducheneaux.
Any business looking to apply must do so through the FSA. They can apply any time before Oct. 15, 2021.
The money received will be based on the difference between the applying company’s gross revenue from Jan. 1, 2019 to Dec. 1, 2019 and Jan. 1, 2020 through Dec. 1, 2020, multiplied by 80%. The maximum amount that any individual or company can receive is $125,000.
For more information on how to apply, visit farmers.gov/pathh.