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$200 million boost to Coromandel economy

Scott Simpson
MP For Coromandel

27 February 2013

$200 million boost to Coromandel economy

Today’s announcement of a $100 million investment by Fonterra in its Waitoa plant is a terrific boost for the regional farming sector and local employment, says Coromandel MP Scott Simpson.

The company plans to construct a new long-life milk processing plant which when fully operational will employ up to 50 staff. Jobs will also be created during construction.

“This is great news for the Waitoa area and the farming community. Not only will this new plant create direct employment, the opportunities for dairy producers are tremendous.

“With the company aiming to double its production of UHF milk over the next few years, new winter supply contracts will be available with attractive milk price premiums. I understand there has already been a high level of interest from farmers,” Mr Simpson said.

The Coromandel MP said today’s news was one of several investments taking place in the Coromandel electorate which would boost the local economy and create jobs.

“The new $100 million retirement village being developed by Summerset Group in Katikati will create around 40 jobs. It is expected to inject around $38 million into the economy during the five-year development period and a further $1.3 million during each year of operation. That is a massive boost for a town the size of Katikati.”

“Encouraging and promoting new investment and job creation are at the core of the Government’s Business Growth Agenda. These two projects together represent an investment of $200 million in the Coromandel electorate. It is heartening to see this sort of confidence and growth happening in our towns and communities,” Mr Simpson said.

ENDS

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