Some of the largest employers in the Northern Rivers are calling on the federal and state governments to increase a disaster recovery package to $100 million.
The NSW government yesterday announced it would contribute $15 million to a business recovery grant scheme, in addition to $50 million of previously announced Commonwealth funding.
Norco chief executive Michael Hampson said if the package was not boosted the dairy co-operative could be forced to lay off 240 of its ice-cream factory staff on July 15.
"Indeed other businesses, whether they're large businesses or not, have had multiple millions of dollars worth of costs incurred from this flood and they haven't received a cent yet.
"We're in the world of hyperinflation at the moment; things are costing a lot more than what we would have thought even three months ago, six months, 12 months ago."
Norco received an initial amount of $5.7 million from the $50 million Large Anchor Business Support Grant Fund to cover wages over the past four months.
While the package was first announced by the former Morrison government in March, applications only opened for the remaining $44.3 million yesterday.
The NSW government's $15 million contribution to the package followed more than a month of pressure for it to co-contribute $50 million.
But Mr Hampson said the rescue package needed to be increased to $100 million to enable Norco and other key employers to rebuild their businesses.
Federal Minister for Emergency Management Senator Murray Watt said his government's contribution was sufficient and at this stage it would not be increasing it.
"We might just wait and see what the state government has to say about that over the next few days and weeks," Mr Watt said.
"Because I think all of us have an interest in making sure that these businesses stay operating and stay employing the hundreds of people in the region that depend upon it."
Mr Watt estimated up to 10 businesses with 200 or more employees would be eligible to access the Large Anchor Business Support Grant Fund.
"I've said to my department that I want to see them processed quickly," he said.
"What we would expect most of the money to be used for is to replace equipment, do rebuilding and to rebuild in a way that makes premises and business operations more resilient to future natural disasters."
Mr Watt said applicants for the Anchor package have been asked to put forward three different proposals.
"One would be a high-cost proposal, one would be medium and one would be small cost.
"What the department will do then is have a look at all of the applications that have been made to determine what is going to make the most difference for the region."
He said the funding was designed to keep as many people in work as possible and get businesses operating again.
While Norco did receive an initial amount, Mr Watt said it would be able to apply for additional funding.
"These are absolutely the kind of funds that Norco could be applying for and that could help Norco with its plans to re-establish the ice-cream factory," he said.
"There are a number of other businesses in the region that would similarly qualify, I'm thinking of places like Sunshine Sugar, and even a number of community services providers that are large enough to qualify."
