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NZ's new ideas key to economic success

Friday 9 May 2003 Media release

New Zealand’s new ideas key to economic success

“The New Zealand economy could be the most innovative in the world, if we continue thriving on ideas that create jobs and development opportunities,” said Economic Development Minister Jim Anderton today.

Examples highlighted today by Government Ministers and backbenchers include the new biotech centre in Palmerston North, the EDS international customer centre based in Auckland, an engineering cluster in New Plymouth and a visit to a Christchurch School that featured in a New Zealand wide school entrepreneurship competition.

Today Jim Anderton and Steve Maharey will announce a Bio Commerce centre with the support of $2 million provided by Industry NZ in partnership with the Manawatu region. Later Jim Anderton will announce assistance for a world class electronics cluster of companies in Christchurch.

The visits celebrate growth through new ideas in the lead up to Budget 2003. Nearly all Ministers and most Government backbenchers visited innovative businesses, industries, clusters, research institutes, schools and polytechnics to highlight the support the Labour Progressive Government is providing.

“This Labour Progressive Government is active in developing our economy. We are involved with businesses, industries and regions in creating jobs and future opportunities. We have developed a clear blueprint of the way forward to encourage and develop innovation. Although much of what we are setting in place will take some years to achieve its full potential, we have set out on the path for sustainable economic development,” said Jim Anderton.

There have already been a number of Budget 2003 announcements which encourage further growth and innovation, such as the $85m package for industry training. The 15 May budget will contain additional measures to support smart growth and sustainable development, promote the commercialisation of good ideas and initiatives to upskill New Zealanders.

New ideas drive the businesses that received enterprise awards today. Up and down New Zealand 94 enterprise awards were provided to businesses with new ideas. The awards announced today total over $1.2 million, and marks over 770 awards given since October 2000. The awards are made to businesses with good prospects of a sustained contribution to the New Zealand economy in coming years.

ENDS

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