There are (RDCs) covering the main agricultural industries. The RDCs bring industry and researchers together to share funding and develop strategic directions that provide industry with innovative and productive tools to compete in global markets.
The Rural Research and Development Corporation model of partnerships between industry and government has been a vital element in the success of Australia’s R&D effort. In the agriculture, fisheries and forestry sector, R&D has helped Australian agriculture double its productivity over the past 25 years. The Council of Rural Research and Development Corporations’ Chairs (CRRDCC) is a forum for ensuring that the RDC model continues to contribute to a sustainable and profitable Australian agricultural sector.
Rural research a sound investment
The largest evaluation of Australian rural research and investment ever undertaken has found that investment directed by rural RDCs benefits both industry and the wider Australian community.
The research report which was released in December 2008, amalgamated 18 months of work. The report showed that from a group of randomly selected RDC projects every RDC dollar invested a return to the community of $11. The return shows that the RDC model of co-investment is very efficient mechanism for achieving solid results.