Farmers welcome boost to innovation fund
NSW Farmers has welcomed the state government’s commitment to expand the Farm Innovation Fund if re-elected.
On Friday afternoon Deputy Premier Paul Toole and Agriculture Minister Dugald Saunders announced a $1 billion expansion to the program, along with plans to increase the maximum amount available to farmers to they can adopt new technologies and use automation and robotics to address labour shortages and carbon farming infrastructure.
NSW Farmers Policy Director Kathy Rankin thanked the government for its commitment to farm productivity.
“This puts farmers in the driver’s seat to future proof their business, which will help secure our future food and fibre supply,” Ms Rankin said.
“The proposed expansion of a broader eligibility for capital works means that NSW producers can be on the front foot of technological innovation as well as being better prepared for the climate variability that they face – and have always had to manage – while growing domestic and international market access.”
The increased value of the individual loans available to farmers – from $1 million to $2 million – meant greater opportunity to have these loans make a real difference, Ms Rankin said.
“Allowing for small improvements to cut costs or to expand key operations will improve productivity, efficiency and supply chain management,” Ms Rankin said.
“This is a commitment to the future of sustainable food and fibre production and community well-being.”
Date: Friday, March 17, 2023
Media Contact: Steve Mudd | 0429 011 690 | mudds@nswfarmers.org.au