Damian,
 
I have heard/read exactly that (fresh wood chips/sawdust taking up N2) for over 30 years of gardening.  Suggestions range from composting for a while first to non-planting use to applying an extra boost of fertilizer if using around plants.
 
Judy
Dennis & Watkins
Message: 5
Date: Thu, 21 Jul 2011 11:11:22 -0400
From: Damian Maddalena <damianmaddalena@gmail.com>
Subject: [Gardening]  thoughts on wood chips
To: Gardening <gardening@eastraleigh.org>
Message-ID: <4E28419A.2000006@alum.wvu.edu>
Content-Type: text/plain; charset=ISO-8859-1; format=flowed

It should be noted the fresh wood chips can decrease the nitrogen
available to plants, as the microorganisms in the soil take up nitrogen
to break down the fresh wood chips.  I tend to use fresh wood chips in
paths or other places I don't want things to grow, or age the chips a
year or so before applying them to garden beds.  I'm planning on digging
out some of the older material in my paths, putting that on the garden,
the putting these fresh chips in the paths (and in the chicken coop).

I've read some contrary information on line (for example:
http://www.google.com/url?sa=t&source=web&cd=1&ved=0CBgQFjAA&url=http%3A%2F%2Fwww.puyallup.wsu.edu%2F~linda%2520chalker-scott%2Fhorticultural%2520myths_files%2FMyths%2Fmagazine%2520pdfs%2FWoodchips.pdf&rct=j&q=fresh%20wood%20chips%20extension&ei=WUEoTpLKEJHC0AHwruj0Aw&usg=AFQjCNGra_yqvJk3l9JqtwKFT7vB6Z6eHw&cad=rja
) but generally I see more pointing towards concern than to not.

Thoughts?

-Damian
219 Lafayette