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Economic recovery programme launched

Hon Gerry Brownlee
Minister for Canterbury Earthquake Recovery

Hon Steven Joyce
Minister for Economic Development

6 December 2012

Economic recovery programme launched

Canterbury Earthquake Recovery Minister Gerry Brownlee has highlighted 20 key projects in the Economic Recovery Programme for Greater Christchurch, which was launched today.

Developed by the Canterbury Earthquake Recovery Authority (CERA) and Ministry for Business, Innovation and Employment (MBIE), the programme lays out a roadmap for economic recovery in the region.

“This has been a thoroughly collaborative process between CERA and MBIE in partnership with local government and the business sector,” Mr Brownlee says.

“Public and private investment in the 20 projects – identified as the most important for the recovery – is estimated at $20 to $30 billion.

“This is a once-in-a-lifetime opportunity for Canterbury to create a new, better and enduring business environment.”

Economic Development Minister Steven Joyce says business disruption following the quakes was significant, but the sector also showed a resilience which provides great confidence in Canterbury becoming a more productive economic engine for the country.

“The Canterbury business community is in good heart and is ready to harness the opportunity presented by the rebuild.

“Every week we’re seeing examples of innovation, focus and commitment to making the Canterbury economy strong,” Mr Joyce says.

Some of the 20 projects, such the anchor developments in the new CBD, titled Christchurch Central Recovery, are already in progress. Others identify new opportunities to be developed and monitored.

Mr Brownlee says the 20 projects have varying timeframes through to 2016, by which time some will be completed and others will transition to partners such as regional economic development agencies.

CERA is also compiling the monthly Canterbury Economic Recovery Dashboard to provide a snapshot of how the region’s recovery is progressing.

“The latest economic data shows a continuation of recent positive trends which have revealed Canterbury to be the fastest growing region in New Zealand,” Mr Brownlee says.

“Unemployment in Canterbury has fallen to 5.2 per cent, construction activity continues to accelerate – with building consents for new residential dwellings in Canterbury increasing 80 per cent in the 12 months to September – and growth in consumer spending over the past year is the highest of any region in New Zealand.”

The full Economic Recovery Programme and Economic Recovery Dashboard can be viewed at www.cera.govt.nz

ENDS

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