The NSW Government is helping a number of regional NSW food and beverage manufacturers advance their manufacturing capabilities through low interest loans.
Under the pilot program, low interest loans can be used for projects such as installing automated production lines, upgrading bottling lines, or buying equipment that will enable products to be exported more efficiently.
Loans are available of between $100,000 and $1 million, and interest is charged monthly at a fixed rate of 2.5 percent for the life of the loan. Loan repayments are interest only for the first two years. The maximum loan term is seven years.
Businesses receiving a low interest loan include:
•Little Big Dairy Co in Dubbo will use funding to install automated technology to reduce waste and increase capacity and improve energy efficiency creating job opportunities and opening new markets.
•Byron Beef Jerky will convert existing areas into cool rooms and food preparation spaces, upgrade power supply, and improve production and storage leading to higher demand for local beef and job growth.
•East Coast Beverages on the Central Coast will upgrade its production capacity by installing automated technology including high speed conveyors, bottling equipment, and advanced line cleaning systems to increase production and reduce waste.
•Ezy Fresh in Wagga Wagga who supply processed vegetables to manufacturers will invest in diversifying their product range and enable a more efficient production process that enables upskilling of staff, doubling of their capacity, which will increase demand for local grown vegetables.
•Timber Town Pies in Wauchope can now invest in upgrading equipment to double their production capacity, create new jobs plus increase demand for local beef.
•McDowells Herbal in Bathurst will invest in specialist equipment to increase their product line and significantly increase their output which will multiply job opportunities and revenue.
The food and beverage manufacturing sector is a major employer in regional NSW, which is already home to companies such as Nestle, Ferrero, Stone and Wood, Sanitarium and Simplot Foods.
The food and beverage manufacturing sector across NSW had an annual turnover of $42.5 billion in 2022-2023 and employed more than 66,000 people as of May 2024.
For more information, go to: nsw.gov.au/regionaldevelopmenttrust