Thursday 24 March 2016

Horowhenua economy set for transformation

Horowhenua’s economy is set to transform from stagnation to significant growth.

Over the past 10 years 80% of territorial local economies (TLAs) grew faster than Horowhenua; with the District also ranked 62 out of 66 TLAs for slowest growth in employment.

Speaking at Horowhenua’s Business After 5 event on Thursday night, leading New Zealand economist Shamubeel Eaqub said Horowhenua is in the enviable position of being given an intervention and avoid becoming a “zombie town”.

“The reason why people live in Kapiti is because it’s close to Wellington. With the new Wellington Northern Corridor stopping at Horowhenua’s doorstep, Horowhenua will become the new Kapiti,” he said.

“But it’s all about leveraging opportunities. If you can attract more people to the District, make it easier to live, easier to do business, the potential is big. It’s a chance of a lifetime that is not going to happen again . It’s like winning Lotto without having to buy a ticket.”

The Wellington Northern Corridor will provide Horowhenua with a “fresh injection of economic potential”, says Horowhenua District Council’s Economic Development Manager Shanon Grainger.

“This is a free hit, or boost, for Horowhenua, as the infrastructure investment will be made by central government,” he said.

“In a sense, Horowhenua will become the new Kapiti. Horowhenua will attract more people to live and work, as they see the benefits of enjoying our rural lifestyle while having the convenience of Wellington being so accessible.

“More money flowing into the Horowhenua economy will drive business growth and urban development. There will be an increase in productivity as higher skilled labour is enticed to work here. More jobs and increased employment will help more people and families to prosper. Households with more job opportunities and more skills earn more income. Plus, there’s the bonus that Horowhenua will benefit from enhanced reputation, as more people are attracted to the District.”

New Zealand Institute of Economic Development (NZIER) analysis shows that the Wellington Northern Corridor (WNC), a Roads of National Significance (RoNS) project, will be an “economic catalyst” for the Horowhenua District.

The new infrastructure will present long-term gains for Horowhenua. These gains will accumulate over time, but will be significant, including:
· 1000 additional jobs over the next 20 years.

· 10,000 more people over the next 20 years.

· 4000 more households over the next 20 years

District Mayor Brendan Duffy says Horowhenua needs to do everything in its control to make the most of this economic opportunity.

“We’re in an extraordinary space. We have fantastic statistical data that shows we are on a trajectory that we haven’t seen since the 1970s. Though this is exciting, the opportunities also come with challenges. We must be ready not just for population growth, but with business and jobs - that combination will ensure Horowhenua is the most successful, vibrant community we can be. I’m confident that both Council and the Horowhenua Economic Development Board are well-focussed on preparing for these.”

ENDS

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