NSW government to double length of
aquaculture leases
The Minns Labor Government is strengthening the state’s aquaculture industry with reforms that will boost investment, increase productivity and support jobs across regional communities.
Under proposed amendments to the Fisheries Management Act 1994 before the NSW Parliament, aquaculture lease terms will double from 15 to 30 years, giving businesses greater certainty to invest, innovate and plan for the long term.
This includes 323 leases in the Eurobodalla Shire.
These proposed changes will benefit 235 oyster aquaculture businesses, operating 2,421 aquaculture leases in 18 Local Government Areas along the NSW coast with the most leases in Mid North Coast, then Bega, Eurobodalla, Port Stephens, Port Macquarie, Central Coast and Shoalhaven.
The Minns Government’s proposed changes respond to long-standing calls from industry to deliver this reform so they can better engage with financial institutions and secure investment for operational expansions and enhancements that then lead to more productivity, jobs and local economic benefits.
The shorter-term leases have historically proven to be an impediment to accessing financial investment and have constrained growth.
These changes are a smart and practical solution to removing barriers for achieving the joint industry and NSW Government Aquaculture Vision that has set out to double the aquaculture sector’s farm gate value to $300 million by 2030. Extending the length of leases to 30 years will better align with the lifespan of modern aquaculture infrastructure.
The reforms are another demonstration of the Government’s work to provide more opportunities for growth and advancement in regional NSW.
The Bill before Parliament will also introduce stronger penalties to deter the theft of aquaculture stock and infrastructure, which is an ongoing issue impacting operators and undermining legitimate businesses.
Minister for Agriculture, Regional NSW and Western NSW, Tara Moriarty said “These reforms are about backing our aquaculture industry to grow, invest and create jobs in regional NSW.
“Doubling lease terms gives businesses the certainty they need to plan for the future and invest in modern, sustainable operations.
“The former National and Liberal Government brushed this problem for the oyster industry to the side, but our Government is stepping forward to make this happen and I call upon the Coalition to back the Bill.
“It’s imperative that we move quickly to deliver this significant improvement for the industry.
“At the same time, the Bill will deliver stronger penalties to protect hardworking farming families and businesses by targeting those who steal stock or damage infrastructure.
“These proposed changes are another example of the Minns Government’s commitment to building a sustainable aquaculture sector, following the investment of $27 million from the Regional Development Trust into 31 seafood projects.
“We’re building a more stable, competitive aquaculture sector that can continue to thrive and deliver both for regional economies, and food for Australian tables.
