FREDERICTON, N.B. — Pulp mills and sawmills in New Brunswick got some much-needed good news Friday when Finance Minister Peter Mesheau promised a tax freeze for the troubled mills.

All industrial property assessments for pulp mills will remain at 2000 levels according to Mesheau’s economic update.

Heavy-industrial users will have their property tax assessments reviewed, and could stand to save money as well. Mesheau says the latest moves are to ensure the province’s tax system doesn’t act as a barrier to job creation or economic growth, especially at a time when the forestry industry is struggling with U.S.-imposed tariffs on exports.

The news was music to the ears of those representing the industry, such as Yvon Poitras, president and chief executive officer of the N.B. Forest Products Association. He says that the province’s mills stand to save between $10 and $20 million. He also suggests this move may save some mills that would have otherwise been forced to shut down.