Advantages of the RDC Model
RDCs invest in agricultural R&D on a competitive basis and partner with public and private providers using funds from levies on production which are matched by the Commonwealth.
The model has given rural industry the vehicle to negotiate new standards for investment, focussed on triple bottom line outcomes.
RDCs can fund R&D into production (on-farm) and processing (off-farm) issues, and are expected to fund portfolios of projects that have a mix of both public good and industry good components given the taxpayer contributions. The RDCs engage with a diversity of stakeholders in a shared vision of what the future can be for rural industries, updated in multi-year strategic plans and reinforced with each annual operating plan.
The RDC model allows for a targeted approach to R&D fund allocation by industry, where those funds are a mixture of government and industry contributions. Further, the model encourages accountability, allowing levy payers to contribute to RDC strategies including the amount of the levy collected.