The Future Food Systems Co-operative Research Centre (FFS CRC) at the University of New England will start with a Federal government grant of $35 million over 10 years, with 57 CRC partners providing an extra $149.6 million in cash and kind.
Costa's corporate affairs manager Michael Toby said they would support research to examine viable recycling solutions for green tomato vine and leaf waste to turn it into a valuable composting material for use in other agricultural enterprises.
Costa will work closely with UNE and other CRC partners to facilitate a coordinated education and training program for skilled professionals in protected cropping and expose more students to the opportunities within the industry.
Costa is also keen to be involved in postgraduate programs (Honours, Masters and PhD) to solve industry problems and have students undertake placements.
Armidale Regional Council Mayor Simon Murray said the funding announcement was an extremely welcome next step in a combined campaign to significantly boost the region's food industry.
"Council has been working closely with UNE and other agencies to explore and facilitate opportunities to capitalise on this region's massive potential for food production," he said.
"Agri-business is one of the pillars of Council's own Armidale Region Economic Development Strategy, which is driving recent Council initiatives such as the Malpas Dam to Guyra water supply pipeline and the Armidale Regional Airport business park.
"Improvements to the regional airport are also linked to our strong push to establish the region as one of the nation's leading agri-business hubs."