(1) The hardwood forest industry plays a key role in the continuing economic revitalization of this Commonwealth.

(2) Fifty-five percent of the land in this Commonwealth is classified as commercial forest land. This represents approximately 16,000,000 acres of timber resources, which are capable of providing essential raw materials for an economically sound and expanding forest industry.

(3) This Commonwealth is uniquely endowed with an abundance of timber resources. This heritage, utilizing proper multiuse management by professional foresters and private interests, will provide a vital source of raw materials and jobs for present and future generations. However, the Commonwealth has not made the most of this unique opportunity. Most of the marketable hardwoods are being shipped outside this Commonwealth and out of the country, where they are transformed into value-added hardwood products, instead of being processed in this Commonwealth.

(4) The Commonwealth, in an effort to promote economic development, should take the initiative by encouraging the hardwood industry to further develop the secondary manufacturing process of hardwood. This will make full use of the valuable and renewable timber resource and create vital jobs.

(5) It is the policy of the Commonwealth to establish the council for the purpose of expanding and promoting the development and efficient usage of forest product resources located in this Commonwealth.