STATE government has added Oysters to its menu of farm investments with Deputy Premier announcing a $3.3 million stake on Australia’s Oyster Coast on the NSW South Coast.
It combines with a $6.7 million co-investment from First State Super, as part of the government’s new GO NSW Equity Fund, established with partners First State Super and ROC Partners last year.
In Narooma this morning Mr Barilaro said the second investment under the fund would allow AOC to more than double its workforce to 75, creating 40 new full time equivalent jobs.
“What’s so pleasing for me, as the Minister for Regional NSW, is that our first two investments through this new fund have been in agricultural businesses, based in regional NSW,” he said.
“This isn’t a helping hand for these oyster growers, it’s a smart business decision – an investment that’s backed by industry experts.
“Any returns we reap for our investment will be re-invested by the fund in other high-potential companies across NSW.
Australian Oyster Coast chief executive Mark Allsopp said the business was unique in that it produces three varieties of premium oysters, including the Sydney Rock Oyster, the rare Angasi ‘flat oyster’ and the popular Pacific Oyster.
“These oysters are grown under rigorous environmental management systems in some of the world’s cleanest waters by passionate growers with generations of experience – we’re delighted that this investment will support more growth,” he said.