Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


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

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Reserve Bank: Labour Calls For Monetary Policy To Expand Goals

Labour's comments follow a speech today by RBNZ governor Graeme Wheeler in which Wheeler sought to answer critics who variously say he should stop lowering interest rates, lower them faster, or that inflation-targeting should no longer be the primary goal of the central bank's activities. More>>

ALSO:

BSA Extension And Sunday Morning Ads: Digital Convergence Bill Captures Online Content

Broadcasting Minister Amy Adams has today announced the Government’s plans to update the Broadcasting Act to better reflect today’s converged market... The Government considered four areas as part of its review into content regulation: classification requirements, advertising restrictions, election programming and contestable funding. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news