Nova Scotia, Stora Enso sign agreement
May 8, 2006 By Pulp & Paper Canada
“We all want Stora Enso to continue its long history in Nova Scotia as a local employer and a major contributor to …
“We all want Stora Enso to continue its long history in Nova Scotia as a local employer and a major contributor to the province’s economy and tax base,” economic development minister Kerry Morash said of the agreement recently signed by the province and the company.
The accord stipulates that Stora will receive $65 million over the next seven years, provided it remains in business. In return, the province of Nova Scotia will be freed of all contractual obligations to provide land to the company, including a commitment to provide 200,000 acres by 2013.
“The province’s contribution should help Stora Enso bridge past short-term challenges, while relieving tax payers of a costly obligation down the road,” Morash confirmed.
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