NSW TAKES $10 MILLION ‘STEAK’ IN WORLD-FIRST WAGYU FARM AT EBOR

NSW TAKES $10 MILLION ‘STEAK’ IN WORLD-FIRST WAGYU FARM AT EBOR

Member for Northern Tablelands Adam Marshall, centre, announces the $10 million investment with Stone Axe Pastoral Managing Director Scott Richardson, left, First State Super Chief Investment Officer Damian Graham, Deputy Premier John Barilaro and Armidale Regional Council Mayor Simon Murray.

Thursday, 22 February 2018

THE State Government will use $3.3 million and leverage another $6.7 million from a NSW superannuation fundto invest inmajor agribusiness Stone Axe Pastoral at Ebor, creating 76 full-time jobs in a state-first arrangement under the GO NSW Equity Fund.

 

Member for Northern Tablelands Adam Marshall was joined yesterday by Deputy Premier John Barilaro to announce the investment with fund partners First State Super and ROC Partners.

 

Mr Marshall said the funding, including the $6.7 million from First State Super, would enable Stone Axe Pastoral to produce a world-leading Wagyu beef operation at Ebor’s Glen Alvie property.

 

“The Ebor district is known as excellent grazing country and I’m proud that the NSW Government has chosen to invest in one of our region’s premier businesses,” Mr Marshall said.

 

“Through this $10 million investment, Stone Axe Pastoral will establish a breeding herd of full-blood Wagyu through the latest in breeding and animal husbandry techniques.

 

“The equity stake will also allow Stone Axe to undertake extensive capital works to improve the property for generations to come.

 

“In just a few years’ time, this Wagyu herd is expected to be the world’s largest, providing a substantial portion of Australia’s export market, which is expected to be almost 75,000 tonnes by 2022.

 

“To achieve this goal, Stone Axe Pastoral will create an additional 76 jobs across cattle operations, administration, breeding and feedlot operations, with another 114 indirect jobs along the supply chain in rural NSW.

 

“These jobs aren’t going to be swallowed up in big cities across our nation, but will deliver great returns for our smaller communities, and Ebor in particular.”

 

Mr Marshall said the investment was the first of many partnerships in country NSW to come from the GO NSW Fund.

 

“The NSW Government’s $150 GO NSW Fund is designed to identify these business opportunities and provide starting capital, which many growing businesses find to be an early impediment for expansion,” Mr Marshall said.

 

“Today’s tour of the yards and pastures has shown that Stone Axe Pastoral is a skilled and well-developed player in the agribusiness industry, with a clear path to growth.

 

“This investment is not only a victory for local industry but is a responsible investment with clear benefit for NSW taxpayers.

 

“At a time when we see headlines about the concerns with foreign investment in our nation’s agricultural enterprises, it is great that the NSW Government will invest and show confidence in growing our own industry here.”

 

Mr Barilaro said the Fund is an Australian-first, which allows the state government to

invest in businesses with high-growth potential, by taking an equity stake in them.

 

“The Liberals and Nationals Government is doing business differently in NSW, putting our money where our mouth is, to ensure we continue to create more jobs in this state than any other state in Australia,” Mr Barilaro said.

 

 

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