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Report Highlights Wellington’s Economic Opportunities

Hon Steven Joyce

Minister for Economic Development

30 April 2013 Media Statement

Report Highlights Wellington’s Economic Opportunities

Economic Development Minister Steven Joyce today released a never-before-seen insight into the economic performance of New Zealand’s regions, including the Wellington economy.
 
The Regional Economic Activity Report pulls together for the first time in one place the available economic data on all of our regions. It also provides a breakdown at the regional level some of the specific initiatives the Government has underway under its Business Growth Agenda.
 
“The report is designed to encourage more debate about what it takes for a region like Wellington to be successful, and to more clearly link the decisions that are made by local stakeholders about resource allocation and usage to the number of jobs available in a region,” Mr Joyce says.

“It is my expectation stakeholders will want to use it to compare and contrast the economic fortunes of different regions around the country, and ask themselves what lessons and opportunities there are for growth and jobs in their region.
 
“The report shows the strengths, challenges and opportunities in the Wellington economy. In particular it highlights the chance to internationalise Wellington’s business services firms, which are largely focussed on Government as their key client, and for the region to further boost its tourism takings.”
 
The report shows that Wellington employs 235,460 people, or 12.2 per cent of jobs in New Zealand, and the average household income is $88,900, above the national average of $80,600. The largest industries in Wellington are public administration or safety, professional, scientific and technical services, and healthcare and social assistance.
 
Mr Joyce says the report will be updated annually and the next report will include a new official measure of regional gross domestic product. This will be produced by Statistics New Zealand and initial data up to 2010 will be available in June this year.
 
“Our Business Growth Agenda is playing an important part in growing the Wellington economy by building the Wellington Airport to Levin Road of National Significance, upgrading commuter rail, rolling out ultra-fast broadband across the region, supporting research and development through Callaghan Innovation and the National Science Challenges, and funding for irrigation development.
 
“Nothing creates jobs and boosts incomes better than business growth.  For New Zealand to build a more productive and competitive economy, we need all of our regions to achieve to their potential.
 
“Each region needs to assess its performance and decide whether it is willing to take the opportunities that exist for jobs and economic growth.”

The report is available at: www.mbie.govt.nz/regions

ENDS

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