Applications wearere now open for the Seafood Innovation Fund
Applications wearere now open for the Seafood Innovation Fund hiphoto40

How Tweed seafood businesses can cash in on new fund

THE Tweed's seafood businesses can now apply for low-interest loans of up to $500,000.

Tweed MP Geoff Provest said applications were now open for the Seafood Innovation Fund which encourages the State's seafood industry to invest in ways to improve long term productivity and sustainability.

Mr Provest encouraged fishers and aquaculture farmers throughout NSW to apply for the program.

"The NSW Liberals & Nationals in Government are providing low interest loans as part of the Seafood Innovation Fund of up to $500,000,” Mr Provest said.

"The Seafood Innovation Fund is an investment in the future of our seafood industry. We are committed to helping NSW seafood businesses increase their long-term productivity and sustainability.

"The fund will build industry capability and allow our seafood businesses to plan ahead with more certainty.”

Mr Provest said the low interest loans can be used by businesses to identify and address risks, improve assets and infrastructure, ensure long term productivity and help build resilience to changes in seasonal conditions.

He said the low interest loans would assist NSW seafood businesses in preparedness, ensure that equipment has a minimal impact on the environment and increase focus on replacement of unsafe or inefficient assets.

"This fund can also be used to help provide assistance to fishers for transport and logistics, to ensure that seafood reaches markets in optimum condition,” he said.

"Our state's seafood producers put some of the finest seafood on our plates and generate over half a billion dollars in economic activity each year. The NSW seafood industry is an important economic contributor to coastal and regional NSW, employing more than 4000 people, and we're working hard to ensure it continues to grow.”

Applications can be made to the NSW Rural Assistance Authority.