Horticulture Innovation Australia Ltd (HIA Ltd) has replaced Horticulture Australia Limited (HAL) to become the control body of the horticulture industry’s service and exports.
The new board was welcomed by the Federal Minister for Agriculture on 7 October 2014, the company came into effect on 4 November 2014 and the Statutory Funding Agreement and Constitution was announced on the 25th November 2014. By November 2015 HIA Ltd will transition to grower owned body with levy payers as registered voting members.
The current government matched funding for industry R&D levy funds, up to 0.5% of the Gross Value of Product (GVP) each industry, will remain in place while a new advisory mechanisms will be created to replace the current Industry Advisory Committee Structure.
The structure of HIA Ltd will incorporate two R&D investment pools – one for industry specific levy funds, entitled Pool 1, and the other for strategic, medium to long term co-investments, entitled Pool 2. The matched Voluntary Contribution (VC) funding will no longer exist, but will be replaced by ‘strategic co-investments’ where contributions from industry, government, commercial and academia may be eligible for matched funding if they are invested in nominated strategic fund from Pool 2.
HIA Ltd was created following the recent review of HAL by ACIL Allen Consulting. For more information on the review, please visit: www.acilallen.com.au .