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
B.C. seeks ban on using drugs in 'all public spaces,' shifting approach to decriminalization
The B.C. government is moving to have drug use banned in 'all public spaces,' marking a major shift in the province's approach to decriminalization.
Orca calf that was trapped in B.C. lagoon for weeks swims free
An orca whale calf that has been stranded in a B.C. lagoon for weeks after her pregnant mother died swam out on her own early Friday morning.
Trump's lawyers try to discredit testimony of prosecution's first witness in hush money trial
Donald Trump's defence team attacked the credibility Friday of the prosecution's first witness in his hush money case, seeking to discredit testimony detailing a scheme between Trump and a tabloid to bury negative stories to protect the Republican's 2016 presidential campaign.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
Air traveller complaints to Canadian Transportation Agency hit new high
The Canadian Transportation Agency has hit a record high of more than 71,000 complaints in a backlog. The quasi-judicial regulator and tribunal tasked with settling disputes between customers and the airlines says the backlog is growing because the number of incoming complaints keeps increasing.
More than 115 cases of eye damage reported in Ontario after solar eclipse
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
'I was scared': Ontario man's car repossessed after missing two repair loan payments
An Ontario man who took out a loan to pay for auto repairs said his car was repossessed after he missed two payments.
76ers All-Star centre Joel Embiid says he has Bell's palsy
Philadelphia 76ers All-Star centre Joel Embiid has been diagnosed with Bell’s palsy, a form of facial paralysis he says has affected him since before the play-in tournament.
U.S. flight attendant indicted in attempt to record teen girl in airplane bathroom
An American Airlines flight attendant was indicted Thursday after authorities said he tried to secretly record video of a 14-year-old girl using an airplane bathroom last September.