Agresearch's Invermay campus is expected to benefit from a new $700 million research fund announced by the Government yesterday for pastoral and food industries.
Known as New Zealand Fast Forward, the fund could be worth $2 billion in 10 to 15 years' time with interest earned and matching contributions from industry.
Prime Minister Helen Clark said during yesterday's launch it would fund research in food and primary exports, to transform the economy into ‘‘a smart, sustainable, high-value supplier of the goods and services, which global markets demand''.
The primary sector and scientists have greeted it as a vote of confidence in the country's largest export earner.
‘‘This is the best news the pastoral research industry has had in 25 years,'' AgResearch manager of applied biotechnology, Dr Jimmy Suttie, who is based at Invermay, said.
Meat and Wool New Zealand chairman Mike Petersen and Fonterra chief executive Andrew Ferrier also welcomed the announcement, saying it recognised the importance to the economy of primary production, but also that the sector still had potential to grow.
Dr Suttie said details of how the money would be dispensed and in what areas was still to be announced, but scientists at Invermay tended to work in the areas of animal efficiency, improving the value of food production, animal genetics, deer and environmental sustainability.
‘‘It fits the theme of primary pastoral production,'' he said.
The fund should also provide greater job security for scientists, making recruitment and retention easier, but he could not speculate on what tangible benefits would eventuate for Invermay.
About 120 people were employed by AgResearch at Invermay and it was relocating another 25 reproduction scientists from Wallaceville near Wellington to the North Taieri campus.
AgResearch chief executive Andy West said potentially the fund would create a better environment for scientists and research centres such as Invermay, but to what extent depended on the level of industry contributions.
‘‘This is very, very good news for the food industry. It is a sea change in thinking which says the primary industry is legitimate and important to the future of New Zealand. It's been 25 years coming to hear that message.''
Miss Clark said four areas were viewed as challenges and opportunities: sustainable pastoral systems, research and educational capability, food innovation clusters and internationalisation.
A fund would be created instead of increasing baseline research funding, because it would provide greater certainty for the science sector.
