In October 2018 the Forest Industries Innovation Fund (FIIF) was launched to support the delivery of the NSW Forestry Industry Roadmap.
The $30 million loan scheme provided long-term low-interest loans to projects that supported industry innovation and the exploration of new markets for forest products. The original loan cap per project was $3 million. This increased to $5 million in 2021.
Applications for loans under the scheme closed on 31 March 2022 and the loan scheme is now fully expended.
Over the life of the scheme, 15 successful applications, totalling $29.9 million, were approved for a broad range of projects across the State. These projects are currently in progress, with the associated loans being administered by the Rural Assistance Authority.