Recycling brings North Bay record profits
Recycling not only benefits the earth, but record prices of certain recyclable products are generating some extra cash for the City of North Bay.
It's the first time the city is recording record profits off the simple act of recycling.
"The City of North Bay has always done a good job of collecting and managing recyclables," said City Coun. Chris Mayne.
But what's unusual this year is the city recorded a nearly $585,000 surplus in its infrastructure and operations budget with most of it -- nearly $365,000 -- coming from the skyrocketing prices in recyclables that have been in high demand due to the COVID-19 pandemic.
"For the 10 or 15 or so years I was on the waste liaison committee, we were always managing what we should collect," Mayne said.
"What can we collect? What is our market for? You know, we never really made a profit."
Due to a scarcity of certain materials, record prices for products such as paper, plastics and metals are what is driving the surplus. Mayne said the city has struggled in the past with the cost of the products.
IT PAYS TO RECYCLE
The latest data shows it pays to recycle as the city's senior facilities and environment engineer recorded the volume of recyclables collected locally is up by approximately 30 per cent.
"Average revenue per tonne of recyclable material in North Bay so far this year is $333.98, which is up compared to $265.71 per tonne in 2021, and more than double 2020’s unit rate of $124.24," said Karin Pratte in a statement issued to CTV News. "Recycling not only helps protect the environment, create jobs and save landfill space, it also generates revenue for the city, which is used to help offset the cost of delivering services."
"We're still doing well right now. We expect, however, the surplus will go until the end of 2022," Mayne said.
He said he isn't willing to project a surplus in next year's budget and it will all depend on if the market value for those products remains high, which he’s hoping for.
"If they do, North Bay is well positioned to take advantage of that," Mayne said.
But said there is reason to celebrate, for now, cashing in on a recycling plan that helps the environment and the city's bottom line.
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