Seafood Industry Boosted By Establishment Of Innovation Fund

Seafood Industry Boosted By Establishment Of Innovation Fund

New South Wales Minister for Agriculture Adam Marshall

Innovation Fund Now Open For Seafood Industry

Victor P Taffa

Fishers and aquaculture farmers across the State will now be able to access low-interest loans to purchase modern equipment and make business improvements thanks to the establishment of the New South Wales Government’s Seafood Innovation Fund.

Minister for Agriculture Adam Marshall today opened the Fund and encouraged business owners to apply.

“Seafood Innovation Fund is an investment in the future of our seafood industry which already employs more than 4,000 people and generates about half a billion dollars in economic activity each year.” Minister Marshall said.

“This Fund will allow business owners to access low-interest loans of up to $500,000 to invest in modern technology, equipment and systems to improve the productivity and profitability of their business.”

“We know the availability of affordable capital can be a real barrier for business owners looking to purchase new equipment and that’s why we’re ensuring more people can access the finance they need to improve their operations.”

“Our State’s seafood producers put some of the finest seafood on our plates but we want to ensure we take that to the next level and build a competitive industry here in New South Wales into the future.”

Chief Executive Officer of the Professional Fishermens Association Tricia Beatty welcomed today’s announcement.

“This will provide an excellent opportunity for fishers to access needed funds to ensure their businesses are safe, efficient and innovative.” Ms. Beatty said.

“We look forward to working collaboratively with the New South Wales Government to identify and implement a range of positive opportunities for our industry.”

Photo Caption (left to right):

Lowri Pryce (Ocean Watch), Tricia Beatty (CEO, PFA), Adam Marshall (Minister for Agriculture), Bryan Skepper (General Manager, Sydney Fish Market), Robert Gauta (General Manager, Newcastle Fishermen’s Co-op)