September 9, 2009

Golden Timber Frames has demonstrated an ability to diversify and expand the regional economy with is entry into the Invermere area.

On September 1, 2009 Golden Timber Frames (GTF) hosted a Grand Opening and funding announcement in Invermere.  Kootenay-Columbia MP Jim Abbott made the announcement that the federal government will be providing $1,487,500 from the Community Adjustment Fund to help the company strengthen its economic opportunities.

David Wilks, Director, SIDIT was very pleased to announce that SIDIT is a supporter of GTF with subordinated debt financing.  GTF provides an opportunity to establish a manufacturing industry able to take advantage of the abundance of natural resources and the recent construction increases.  Manufacturing of wood timber also adds value to the natural resource utilized.  It retains the entire revenue associated with the product right in its local economy, from log harvest through to the end user.

Partnership with First Nation’s Shuswap Indian Band for land lease, initial log inventory and future timber supply for Douglas fir will provide a mutually beneficial business relationship providing a continuing, long-term, fixed price timber supply contract to the Partnership and regular, reliable cash flows for the Shuswap Indian Band.

In addition to key management positions, GTF is expected to create 40 or more permanent and temporary full time equivalent positions in its first five years of operation.  The majority of these positions will be well paid skilled tradesmen and professionals.  Additional job creation will occur as GTF contracts services to meet its needs including:  logging, trucking, construction supply, etc.

For more information on the announcement for GTF please see page 5 of the Columbia Valley Pioneer newspaper by clicking on the following link:  http://www.columbiavalleypioneer.com/pdf/vol6issue36.pdf