East Coast Beverages at Kulnura can now 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.
The loans, delivered as part of the Government’s Regional Development Roadmap will help boost productivity, create jobs, and deliver advanced manufacturing capabilities.
The loans have been made to businesses in Dubbo, Byron Bay, Wagga Wagga, Wauchope, Bathurst, the Central Coast and Southern Highlands.
Under the $5M 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 $1M, 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.
Unlike a commercial loan, these loans do not require family homes to be put forward as security,
In a series of Ministerial Roundtables with regional businesses this year, food and beverage industry leaders indicated they needed assistance to adopt new technology to increase productivity and expand their market opportunities.
The NSW Government is assisting good businesses grow so they can increase demand for local produce, add value to their products, boosting revenue and creating jobs into their regions.
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 $42.5B in 2022-2023 and employed more than 66,000 people as of May 2024.
For more information, go to: www.nsw.gov.au/regionaldevelopmenttrust
