Premier Pauline Marois has announced a series of measures that would inject $430 million into Quebec’s forest industry.

The total includes $100 million in new money and will attempt to stem the bleeding in a sector that has seen 30,000 jobs lost since 2008, a total that represents one-third of the entire workforce.

Marois, in a speech before 200 in Saint–Félicien, Lac-Saint-Jean promised a “fresh start,” for the industry but also attempted to keep expectations down.

“We won’t find complete and definitive solutions in two days,” she said. “We don’t know all of the challenges that the future holds but we are launching a strong message, a new start for Quebec's forest industry.”

The money will be spent within seven years, including $320 million to be spent modernizing the forestry sector over the next three years.

Another $50 million, to be spent between now and 2020, will go to create a program of residual forest biomass energy production in the aim of reducing fossil fuels and lowering greenhouse gas emissions.

Another $27 million will go towards a trio of sustainable development initiatives that they hope could yield triple that amount in profits.

Another $67 million will be spent over three years for various forestry management, clearing and reforestation projects.

And $10 million will go to stimulating the development of private forests through a system of property tax reimbursements that could benefit 130,000 small producers.

As with previous financial promises, political opponents expressed doubt that the province has the cash to spend.

“The announcement is interesting and entertaining but will the money be there?” asked Liberal leader Philippe Couillard. “We’re very concerned about Quebec’s fiscal situation and this is an issue of credibility in managing public funds.”

But Richard Garneau, President and Chief Executive Officer of Resolute Forest Products - a major employer in the region – said that the promises are significant and could restore investor confidence.

“This is an important step. The government has decided that forestry brings economic development and jobs supporting jobs. I hope it will have a lasting impact on the perception that investors and Quebec forest industry,” said Garneau.