1 Oct 2013

Govt promises more PGP funding

6:35 am on 1 October 2013

The Government is promising more funding for joint venture research projects under it's Primary Growth Partnership scheme.

There are now 16 projects in the four-year-old programme, with the Government and the industries involved sharing funding of more than $680 million.

Primary Industries Minister Nathan Guy told a PGP expo in Wellington on Monday there was more to come.

"This is a serious cash injection. The potential benefit to the wider economy from these programmes is over $7 billion per year from 2025," he said.

"PGP activity is about supporting innovators to deliver long-term economic growth across the sector."

However, that also meant taking some risks, Mr Guy said.