In November 2002, Weyerhaeuser announced the closure of its Vavenby sawmill. A few months after this announcement, the residents of Wells Gray country formed a committee with the goal of obtaining a community forest license. This endeavour aimed at providing economic stability for some of the forestry workers in the area while generating revenues to help finance some social initiatives led by local community organizations. This grassroots effort laid out the organizational framework for what would become the Wells Gray Community Forest Corporation (WGCFC). 

​

On September 21, 2004, the Wells Gray Community Forest Corporation was incorporated under the BC Business Corporations Act. In 2006, the WGCFC was formally granted a Probationary Community Forest Agreement by the Province of British Columbia. The agreement covered more than 13,000 hectares in the Kamloops Timber Supply Area and included an annual allowable cut (AAC) of 33,500 m³. Its purpose included mitigating the effects of mountain pine beetle–damaged timber and supporting local recovery efforts.

 

The WGCFC developed as a citizen owned forest tenure with a clear mission: to manage timber and nontimber resources responsibly for long-term environmental, social, and economic benefit. Today, the Corporation manages 13,148 hectares with an updated AAC of 29,900 m³, reflecting later adjustments to the tenure area and allowable cut. Its management philosophy emphasizes sustainability, ecosystem stewardship, longterm community benefit, and prioritising land stewardship over profit. 

​

In 2010, the Community Forest (2010) Society was created to make the distribution of profits more efficient. Over the past 25 years, through the combined efforts of the Corporation and the Society, the Wells Gray Community Forest organisation has reinvested more than $6,000,000 into the community, supporting over 160 organisations.