A multi-agency value-added wood study will be taking place on Vancouver Island.

The study was announced at last week’s economic summit in Nanaimo.

George Hanson with the Vancouver Island Economic Alliance says there is a window of opportunity to look into the diversification of the forestry industry on Vancouver Island.

Hemlock and Balsam typically grows on the coastal regions of BC and no real value added process is in place for the fibre from those species.

Hanson says the $60,000 study, which is expected to take a year, has the support of BC Wood, the Canadian Wood Council, and a variety of communities in the region.