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Innovative NSW farmers investing in the future
Monday, 27 November 2017
Deputy Premier and Member for Monaro John Barilaro said NSW farmers are leading the nation in embracing innovation and investing in technology according to new research from the Commonwealth Bank.
Mr Barilaro said CommBank’s latest Agri Insights survey canvassed 1,405 Australian farmers in September about their intentions for their farms over the next 12 months.
“This research shows 43 per cent of surveyed NSW farmers plan to increase their investment in farm technology and innovation over the next 12 months,” he said.
“This was more than any other state, six percentage points above the national result, and was a great improvement from 12 months ago when a quarter of surveyed NSW farmers said they would increase investment.
“NSW farmers are increasing farm technology and innovation to improve overall productivity or efficiency (39 per cent), keep up with future advancements and latest technology (28 per cent), and to utilise precision agriculture.
“The research showed NSW was also ahead of the national average on plans to invest in skills and education at 27 per cent. That compared to 26 per cent in Tasmania, 22 per cent in Western Australia, 24 per cent in Victoria, 19 per cent in Queensland and 16 per cent in South Australia.
“These investments in technology and skills will help NSW farmers prepare for the future, adapt to change, and drive productivity, efficiency, sustainability and profit.”
Mr Barilaro told the CommBank Regional Innovation Forum in Canberra today that the NSW Government is investing in innovation to help regional communities.
“Our Boosting Business Innovation Program is providing $18 million to our universities and CSIRO to work with businesses, including in our agribusiness and agritech sectors, to help them innovate,” Mr Barilaro said.
“Through Jobs for NSW we’ve committed 30% – or $57 million – of a $190 million fund to regional areas to help high-growth small and medium businesses. This includes new interest-free Regional Growth Loans of between $200,000 and $500,000.
“We’re also backing regional entrepreneurs through our $25 million investment in the Sydney School of Entrepreneurship (SSE) and helping businesses statewide through our Business Connect advisory service.”