Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Economic Recovery A Collaborative Effort


Media Release
Thursday 18 April 20013
For immediate release

Economic Recovery A Collaborative Effort

Collaborative effort is needed to help Wellington’s economic recovery according to a report to the Greater Wellington Economic Wellbeing committee.

The report from the Wellington Regional Strategy Project is based on economic trends over the past 10 years and key economic indicators over the past year. It aims to provide a collective picture of the local economy and to highlight possible areas of focus for the future.

The State of the Regional Economy report shows that while Wellington has a strong base for sustainable progress, economic recovery has been slower than in other parts of the country. The report suggests a commitment and a regional approach would help move the economy forward at the same pace as other regions.

The median annual income for Wellington residents is higher than for the rest of New Zealand with almost 40% of the workforce employed in highly skilled occupations (36% nationally). The region has a comparative advantage in a number of industries such as arts and recreational services, telecommunications, internet and library services, insurance, finance, electricity and gas industries.

The region’s infrastructure such as water and energy supply, public transport and roading and port services have the capacity for sustainable economic growth and residents are better serviced than other New Zealand regions in the areas of health and hazard mitigation.

On an international scale Wellington scores highly on infrastructure and community amenities. However, its global ranking is drastically affected by its inability to handle international connections and direct flights.

Also having a negative impact on economic growth is a population growth rate that is lowest for metropolitan regions and a reduction in the number of skilled migrants coming to the area. Wellington is trailing in employment growth, ranking 11th out of 16 regions, 15th for economic growth and 15th for sector diversity.

Growth in the number of businesses is slightly below the national average and house prices have declined in Wellington while increasing in other parts of the country.

The report highlights the work already being done in the region to promote economic improvement such as the Wellington Regional Strategy Office project to promote ultrafast broadband, the recent all sector Call to Action Workshop and follow up work, the Wairarapa Water Use Project, and the proposal to expand Wellington Airport facilities which is currently included in the Wellington City Council’s strategic plan.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament Today:

Werewolf: The Defence Pretence

Last year, the world began spending more money on weapons again, for the first time since 2011... New Zealand belongs to a region – Asia and Oceania – where military spending rose sharply in 2015, by 5.4 per cent. More>>

ALSO:

Gordon Campbell: On Not Crying Foul, Argentina

So a couple of guys found to be criminally liable of environmental pollution in Argentina lodge an application with the Overseas Investment Office… in order to buy some prime New Zealand rural land. Seems that their factory back home had carelessly and/or intentionally discharged toxic waste into the Lujan river. Bummer... More>>

ALSO:

Urban & Rural: $303m To Merge And Modernise New Zealand’s Fire Services

Internal Affairs Minister Peter Dunne today announced funding of $303 million over five years to combine urban and rural fire services into one organisation from mid-2017. More>>

ALSO:

High Trust Regime: What Did The PM Tell His Lawyer About Foreign Trusts?

The Government stopped the IRD from reviewing New Zealand foreign trusts shortly after the Prime Minister’s lawyer wrote to the Revenue Minister claiming John Key had promised him the regime would not be changed. More>>

ALSO:

Road Crime: Wicked Campers Vans Classified As Objectionable

The definition of publication includes any "thing that has printed or impressed upon it, or otherwise shown upon it, 1 or more (or a combination of 1 or more) images, representations, signs, statements, or words", The Classification Office has previously classified such 'things' as billboards, t-shirts, and even a drink can. This is the first time the Classification Office has classified a vehicle. More>>

ALSO:

'When New' Repairs: Landmark EQC Settlement

The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity's responsibility to repair earthquake-damaged property to a 'when new' state, as well as covering repairs for undamaged parts of a property and clarifying its position on cash settlement calculations. More>>

ALSO:

Gordon Campbell: On Kiwirail’s Latest Stint In The Dogbox

The denigration of Kiwirail continues. The latest review (based on a 2014 assessment) of the options facing the company have enabled Kiwirail to be hung out to dry once again as a liability and burden on the taxpayer. More>>

ALSO:

Royal Society Report: Good Opportunities To Act Now On Climate Change

There are many actions New Zealand can and should take now to reduce the threat of climate change and transition to a low-carbon economy, a report released today by the Royal Society of New Zealand finds... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news