Green light on Primary Growth Partnership projects

Agriculture and Forestry Minister David Carter says New Zealand stands to benefit enormously from more than $45 million in government-industry partnerships announced today.

Projects planned by the New Zealand Forest Owners’ Association, the Foundation for Arable Research and the New Zealand Merino Company are the first to receive funding from the Primary Growth Partnership (PGP).

The three primary sector organisations will receive between them $20m over five to seven years under the government-industry partnership which was announced in Budget 2009. With industry funding, the value of the partnerships are expected to exceed $45 million.

Mr Carter says the economic spins-offs could amount to billions of dollars if the proposals’ scientific and market research and product development are brought to fruition.

“These proposals are of a very high quality, and stand to deliver enormous returns on investment.

“When the PGP was launched in September last year, the aim was to transform great ideas into research, development, and ultimately products, jobs and growth.

“Since then, industry participants have been working hard at refining business plans to provide evidence of how their proposals will add significant value to the New Zealand economy.

“Today’s announcement is just the start of the PGP, and with more business cases coming forward we will soon be realising the full benefits of this Government’s commitment to research and innovation,” Mr Carter says.

Details of the bids are available at www.maf.govt.nz/pgp/

ENDS

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