Up to $1M is available from Farm Innovation Fund to build on-farm infrastructure, including stock containment areas.
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 business, improve permanent farm infrastructure, ensure long term productivity and sustainable land use plus aiding in meeting changes to seasonal conditions.
The Farm Innovation Fund is part of the NSW Government’s Drought Strategy and is a long term, low interest rate loan for NSW farmers for permanent on-farm infrastructure. The Farm Innovation Fund helps farmers to:
- improve farm productivity – reduce risks and improve efficiencies by building fodder and grain storage facilities, sheds, fencing, roadworks and solar power conversions.
- manage adverse seasonal conditions – improve water efficiencies with irrigation systems, cap and piping of bores, new dams, install water tanks and desilting of ground tanks.
- ensure long term sustainability – increase the viability of a farm business and improve pasture and soil health, plant trees for shade and wildlife corridors, eradicate weeds, flood proof property and fence river banks.
A loan of up to 100% of the net, GST exclusive cost of the works to a maximum of $1,000,000 with a maximum of $1,000,000 outstanding at any time.
The availability of loans is subject to funds being available. No loans will be offered beyond the allocated funding.
The 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.