More investment needed for Bay businesses to unlock potential

Hawke’s Bay, 01 August 2018 – Yesterday, Hawke’s Bay civic, iwi and business leaders gathered at the Hawke’s Bay Business Hub to hear first-hand from New Zealand’s Investment Attraction Taskforce. The visit, facilitated by NZTE and Business Hawke’s Bay hosted those charged with targeting higher levels of quality business investment into New Zealand to accelerate growth and build a strong competitive economy with increasing numbers of higher paid jobs.

Peter Chrisp, Chair of the Investment Attraction Taskforce (IAT), along with a large team of senior government officials visited the region to share information on the activities of the taskforce, provide an update on the Provincial Growth Fund and learn about the investment needs of Hawke’s Bay businesses.

Central Hawke’s Bay District Council Mayor Alex Walker speaking as the interim chair of Matariki REDS leadership forum, says the Hawke’s Bay region is ripe for investment as we pursue the vision of Matariki.

“We need a diverse, high value economy that can enable success for all households and whanau. As a region we are primarily food producers – we welcome investment that can bring us closer to markets, with premium-value products and the development of high-quality jobs,” says Ms Walker.

Hastings District Council Mayor Sandra Hazlehurst says: “The Tomoana Food Innovation project, outlined at the meeting, is a fine example of a collaborative regional project enabled by the Provincial Growth Fund (PGF).

“The opportunity to bring all the different sectors in Hawke’s Bay together to hear and understand the vision of the Government’s Investment Attraction Taskforce and the PGF is enormously valuable,” says Mrs Hazlehurst.

Peter Chrisp, says New Zealand has a multitude of great businesspeople right across the country, and especially in regions like Hawke’s Bay.

“But often it’s not just the quality of the people or what they produce that ensures the business will be a great success – given we’re only a market of four million people, that limits how much we can earn to invest back into the business.

“The purpose of the taskforce is to match local and foreign investors with local businesses, for the good of New Zealand. That way we can provide the capital that will turn small businesses into much bigger ones that can benefit the whole community.

“It’s really important for the Taskforce that we get into the regions, to work with different business groups and all levels of government to look for these opportunities, and work with local businesspeople to help them meet their ambitions,” says Mr Chrisp.

CEO of Business Hawke’s Bay Carolyn Neville says the visit was important to ensure that Hawke’s Bay stays top of mind for Taskforce members.

“It’s a competitive market for investment. Hawke’s Bay needs to have a high level of ambition in seeking the best set of investments, comparative economic advantages and opportunities for the region.

“By showcasing our region, what we have to offer and the opportunities for investors, we give our local Hawke’s Bay companies the best opportunity of attracting capital so they can grow. That’s good for them, it’s good for sustainable job creation and it’s good for economic growth,” says Mrs Neville.

The Taskforce was interested to learn about Matariki, Hawke’s Bay’s Regional Economic Development Strategy, and the collaborative approach being taken to drive economic growth.

The visit of the Taskforce is a step in enabling Matariki action 6.2: Develop a targeted regional strategy for the attraction of businesses, investment and migrants.

ENDS

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