"This is a fantastic opportunity for Beef and Lamb, DairyNZ, Northland Inc and the Ministry of Primary Industries to work together to improve the region's economy," he said.
"Extension 350 has the ability to enhance farm systems to improve the profitability of the farms involved. Northland Inc has been of great assistance in having independent economic evaluation of a grassroots project which has encouraged other funders to seriously consider the proposition.
"For the farmer, profitability equals choices - such as the flexibility to make decisions about future on-farm improvements, repaying debt or improving livelihood."
Alison Whiteford, of Beef and Lamb NZ, says the project aligns with their mantra of: "By farmers, for farmers".
"The project will engage skilled and profitable farmers with their peers who are eager to enhance their farm systems.
The increasing economic and climatic volatility are challenging farmers to adopt practices to enhance their viability - we see Extension 350 as a significant contributor to address these challenges," she said.
Chris Neill, of DairyNZ, says he was pleased to have partnered with the Northland Dairy Development Trust to support the Focus Farm and Partner Farm pilot projects which had proven the power of farmers supporting farmers to make on farm change.
"Extension 350 is the next step of scaling up farmer driven initiatives to a large number of Northland farmers. We anticipate this programme will make a significant contribution to growing Northland's economy."
Julie Jonker, chairwoman of the Northland Agricultural Forum, likened the initiative to a business growth hub.
"The forum has promoted this initiative as agriculture sectors step forward in growing Northland's economy. It is the agriculture equivalent of a business incubator which customises business coaching to provide the skills, clarity and support to grow," she said.
Northland Inc chief executive David Wilson said: "Extension 350 is a priority project in the Tai Tokerau Northland Economic Action Plan and we believe it has the potential to change the way we farm by giving more farmers the tools and profitability to embed sustainable practices in their farm systems.
That is why we were pleased to support the development of the business case."