The Board of Australian Wool Innovation (AWI) is recommending a change from the current 50:50 Marketing versus Research & Development investment split to a 60:40 ratio for the 2013/14 to 2015/16 strategic period.
Under the proposed Strategic Plan for the next three years, AWI will invest 60% of levy funds in marketing and 40% in R&D activities to help maintain the productivity, profitability and sustainability of Australian woolgrowing.
AWI has also proposed to increase its overall research and development expenditure in dollar terms through a defined draw down from the company's reserves.
While 40% of the overall AWI spend will be in the R&D field, the ratio of on farm to off farm research and development investment is proposed to be 25:15.
"During WoolPoll it is critical for growers to take the time to assess what AWI has delivered over the past three years. WoolPoll 2012 is an opportunity for woolgrowers to again vote on the future direction of their company," AWI CEO Stuart McCullough added.
As part of any WoolPoll, AWI is required to conduct an independent and formal Review of Performance. This has been undertaken and will be available to all woolgrowers on the 21st of September with the Voter Information Kit that outlines in detail the investment plan for the 2013/14 to 2015/16 strategic period.
AWI has recommended Australian woolgrowers vote to continue the two per cent levy to insulate the Research, Development & Marketing investments against the cyclical nature of the industry. However at WoolPoll, woolgrowers have five levy options to vote on; 3%, 2.5%, 2%, 1% and zero.
Leading up to and during the WoolPoll voting period, there will be a range of information available and regional functions to attend for growers to make an informed decision.
"The next three years offer many opportunities and challenges for the industry.
Your vote in support of AWI's recommendation will ensure we can continue to build the momentum of investment that positions our product as the world's best premium, natural, renewable fibre," Mr McCullough added.
Visit www.woolpoll.com.au to keep up to date with all the latest information on WoolPoll from both AWI and the WoolPoll Panel.