On Wednesday 20 June, SFM welcomed a visit from the Minister for Agriculture, The Hon. Adam Marshall, who announced the establishment of the NSW Government’s Seafood Innovation Fund. Fishers and aquaculture farmers across the State will now be able to access low-interest loans to purchase modern equipment and make business improvements.

“The 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,” Mr 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.”

Applications can be made through the NSW Rural Assistance Authority at www.raa.nsw.gov.au