Up to $500,000 is available from the Farm Innovation Fund to assist farmers address farming risks and to improve infrastructure.
Farm Innovation Fund
The Farm Innovation Fund is an incentive-based initiative to assist farmers within New South Wales to identify and address risks to their farming enterprises, improve permanent farm infrastructure, ensure long term productivity and sustainable land use plus aiding in meeting changes to seasonal conditions.
The Farm Innovation Fund provides loans to assist farmers within New South Wales to carry out capital works which:
- identify and address risks to their farming enterprises
- improve permanent farm infrastructure
- ensure long term productivity and sustainable land use
- prepare for changes to seasonal conditions.
A loan of up to 100% of the net, GST exclusive cost of the works to a maximum of $250,000 per project, with a total of $500,000 outstanding at any one time.
The net cost is determined by deducting the amount of any other Government grants relating to the proposed works.
The availability of loans is subject to funds being available. No loans will be offered beyond the allocated funding. Applicants should contact the Authority prior to lodging an application.
The Farm Innovation Fund has four main categories:
- Stock & Domestic water supply
- Cap and piping of bores in the artesian basin
- Refurbishing / desilting ground tanks
- Planting Perennial Species
- Soil Conservation
- Erosion control
- Woody /Noxious weed/Serrated Tussock Control
- Solar Power Conversions
- Fodder storage facilities (Silo-Hay Shed)
- Farm/shearing sheds
- Fencing/Road works
- Storm/Exclusion netting
- New/upgrading of irrigation systems
- Planting trees for shade/wild life corridors
- Livestock effluent control
- Fencing off of river banks
- Disaster Mitigation Works (Flood Pads etc)
To be eligible you must:
- Be the owner or operator of the property where the work is to be carried out.
- Show the farm enterprise under normal seasonal conditions provides at least 50% of your total GROSS income.
- Not have gross off farm assets exceeding $5,000,000
- Demonstrate that the works have a significant beneficial impact on the land, the farming enterprise and aid in preparing for adverse seasonal conditions
- Demonstrate that your farm enterprise has long-term viability and has the capacity to repay the loan sought.
- Provide satisfactory security to support the loan sought.
- Lodge an application before commencing the project.
- Demonstrate the proposed works are part of your Farm Business and Risk Assessment Plan.
Application is on an ongoing basis.