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.
CTVNews.ca Top Stories
Health Canada to change sperm donor screening rules for men who have sex with men
Health Canada will change its longstanding policy restricting gay and bisexual men from donating to sperm banks in Canada, CTV News has learned. The federal health agency has adopted a revised directive removing the ban on gay, bisexual and other men who have sex with men, effective May 8.
American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
LeBlanc says he plans to run in next election, under Trudeau's leadership
Cabinet minister Dominic LeBlanc says he plans to run in the next election as a candidate under Prime Minister Justin Trudeau's leadership, amid questions about his rumoured interest in succeeding his longtime friend for the top job.
U.S. vetoes a widely supported UN resolution backing full membership for Palestine
The United States has vetoed a widely backed UN resolution that would have paved the way for full United Nations membership for the state of Palestine.
Sports columnist apologizes for 'oafish' comments directed at Caitlin Clark. The controversy isn’t over
A male columnist has apologized for a cringeworthy moment during former University of Iowa superstar and college basketball’s highest scorer Caitlin Clark’s first news conference as an Indiana Fever player.
Bayer recalls hydraSense baby product over 'potential contamination'
Bayer announced Thursday it is recalling two lots of its hydraSense Baby Nasal Care Easydose due to a potential contamination.
N.L. gardening store revives 19th century seed-packing machine
Technology from the 19th century has been brought out of retirement at a Newfoundland gardening store, as staff look for all the help they can get to fill orders during a busy season.
Cat found on Toronto Pearson airport runway 3 days after going missing
Kevin the cat has been reunited with his family after enduring a harrowing three-day ordeal while lost at Toronto Pearson International Airport earlier this week.
Grandparent scam suspects had ties to Italian organized crime, police allege
A group of suspects that allegedly defrauded seniors across Ontario and other parts of Canada using a so-called emergency grandparent scam appear to have ties to 'Italian traditional organized crime,' according to an investigator involved in the OPP-led probe.