Fisheries Research and Development Corporation (FRDC) is a co-funded partnership between its two stakeholders, the Australian Government and the fishing industry. It was formed as a statutory corporation on 2nd July 1991, under the provisions of the Primary Industries Research and Development Act 1989 (the PIRD Act 1989) and is responsible to the Minister for Agriculture.
FRDC’s role is to plan and invest in fisheries research, development and extension (RD&E) activities in Australia. This includes providing leadership and coordination of the monitoring, evaluating and reporting on RD&E activities, facilitating dissemination, extension and commercialisation. The FRDC achieves this through coordinating government and industry investment, including stakeholders to establish and address RD&E priorities. In addition the FRDC monitors and evaluates the adoption of RD&E to inform future decisions.
FRDC has a significant responsibility in ensuring, on behalf of the Australian Government, that research is undertaken to assist in the management of the fisheries and aquaculture resource for ongoing sustainability. This means that a significant proportion of funding is directed at research that has a benefit for the three sectors of the fishing industry: commercial (wild catch and aquaculture), recreational and indigenous and also delivers a public good benefit to the Australian community.
FRDC has evolved as an organisation since inception in 1992. Over this time the strategic focus has also changed to reflect the priorities of both the stakeholders but also the broader community base. A summary of FRDC's evolution has been prepared and is available for download [PDF].
FRDC’s stakeholders are the Australian Government and the three sectors of the fishing industry: commercial (wild catch and aquaculture), recreational and indigenous. It is also guided by state and territory governments, other funding bodies, research providers, community and interest groups and ultimately the people of Australia.
FRDC is charged with investing in priority research and development within the fishing industry, meeting the government’s national and rural research priorities and pursuing adoption of that research and development. It does this with funding from the Australian Government and contributions revenue from the Commonwealth and state-based fisheries.
In addition to the requirements of the PIRD Act, the FRDC reports to its prescribed representative organisations and is subject to accountability and reporting obligations set out in the Public Governance, Performance and Accountability Act 2013. The FRDC produces an Annual Report for the Commonwealth Parliament and its stakeholders these are available for download on the Annual Report page.