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Report on Benefits of Rural R&D Corp Welcome

by 5m Editor
17 December 2008, at 8:10am

AUSTRALIA - The Australian Chicken Meat Federation (ACMF) welcomes the latest government report that concludes from an economic study the overwhelming benefits of the country's Rural Research and Development Corporations (RDCs)

ACMF welcomes the release on 16 December of the most extensive evaluation ever undertaken in Australia of the economic benefits flowing from rural R&D. The report was prepared by the Council of Rural RDCs' Chairs. ACMF's Executive Director, Dr Andreas Dubs said, "The report demonstrates in a systematic manner what our industry has long known: RDCs are an excellent mechanism providing a very credible return of $11 for each dollar invested - an excellent reason for industry to continue strongly its support of the RDCs."

The report also illustrates that the social and environmental benefits, while in many instances difficult to quantify, are very substantial. For example, a set of 36 highly successful projects resulted in $10.5 billion of benefits, of which close to half are social and environmental benefits - A strong argument in support of the ongoing co-investment by Government in the RDCs.

Innovation is the basic ingredient for economic growth and in rural industries such as ours, research, development and extension, which underpins innovation, is extensively supported by the Rural Research and Development Corporations (RDCs).

There are 15 RDCs which represent a valuable partnership between rural industry and Government. The chicken meat industry benefits from this arrangement through its participation in the Rural Industries R&D Corporation (RIRDC) which covers a range of industry sectors. The Chicken Meat Program contributes about $2.5 million annually to a national research effort, underpinning the industry’s development and productivity, with about half of these funds coming from industry through a levy-based contribution.

The Australian Chicken Meat Federation is the peak industry body representing the various participants in the chicken meat industry, and in particular the chicken growers and the chicken meat processors, at the national and international level.

Further Reading

- You can view the summary of the report from the Australian Government's Rural R&D Corporation by clicking here.