Investment in Riverland economy

Submitted 18/02/2010

www.southaustralia.biz

The State Government has announced it will invest $20 million over four years in a Riverland Sustainable Futures Fund to help create more diverse industries and promote further investment in existing businesses.

The three Riverland Mayors, the Chair and the Chief Executive of the Riverland Futures Task Force presented their concept plan for a viable Riverland future at a meeting with Premier Mike Rann.

Minister for the River Murray Karlene Maywald and Regional Development Minister Paul Caica say money will be invested in projects that improve infrastructure and support industry attraction.

Minister Maywald says for much of the past decade the Riverland economy has been under stress with drought, record low inflows into the River Murray, climate change, low commodity prices and a strong Australian dollar affecting the productivity and profitability of irrigated agricultural production.

She says irrigated agriculture will continue to be an important part of the Riverland economy.

She says South Australia has won its battle with Victoria and New South Wales to secure another 40 GL of water for River Murray irrigators and this will allow allocations to be increased to 55 per cent.

"South Australia fought hard to secure this 40 GL, demanding an independent review of imbalances after suspecting that we'd been short changed under the Murray-Darling Basin Agreement," Minister Maywald says.

"The State Government will always fight to get the best deal we can for our irrigators, however in the long term we have to recognise that factors of climate, river inflows and drought will continue to be beyond the control of anyone.

"So it is right to invest in creating a more diverse and sustainable economy for the communities of the Riverland."