WITH payments totalling €58.5 million now being issued in relation to over 16,250 forestry plantations around the country, landowners are being encouraged to consider investing in forestry as a means of securing a regular, on-going income and of contributing to their local economy.
Junior Agriculture Minister Shane Mcentee announced on On April 3 that the 2012 annual forestry premium payments would be rolled out by the end of that week and he encouraged landowners to consider forestry "as a means of a regular income from the associated annual forestry premiums, an investment for their future and the production of a raw material for a strong indigenous industry that brings considerable benefits to our economy."
The Forestry Company has welcomed the announcement. A company spokesman said: "Every year when the annual premium payments are made our clients are delighted to see the return they are getting from forestry. A forestry crop is a valuable asset and the tax-free, annual premium is a welcome source of income in the current climate."