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Wellington’s economic opportunities highlighted

Hon Steven Joyce

Minister for Economic Development

5 June 2014 Media Statement
Wellington’s economic opportunities highlighted

Economic Development Minister Steven Joyce today released the 2014 Regional Economic Activity Report, which includes information about the economic performance of the Wellington region.

The annual report pulls together comprehensive economic data on New Zealand’s 16 regions.

Mr Joyce says the report highlights the diversity of our regions, with each making a different contribution to the national economy.

“Wellington’s workforce is the most skilled in New Zealand; it has the highest average household incomes once housing costs are taken into account; and has the second highest GDP per capita, after Taranaki,” Mr Joyce says.

“The region is the seat of government, the home to many insurance and financial companies and it has the highest concentration of web and digital companies in New Zealand.

“The Government is currently the main customer for many knowledge intensive companies so there are real opportunities for these firms to seek a wider, international client base. The region could also further develop its creative and digital industries, tertiary education, manufacturing, tourism and high end food and wine sectors.

“The Regional Economic Activity Report highlights opportunities for growth in all regions and I expect it to encourage further public debate about the relative performance of our different regions.”

The 2014 Regional Economic Activity Report includes for the first time the official measure of regional gross domestic product, more comprehensive figures on employment and incomes, and new sections on population and Māori economic development.

To complement the report, an interactive website has been developed that contains information on 66 sub-regional areas. This finer detail is available online or can be accessed on the go, through a download for tablets.

Mr Joyce says the report supports the Government’s Business Growth Agenda, which will deliver initiatives and reforms that will benefit the Wellington region.

“Our Business Growth Agenda will boost transport and broadband infrastructure, support research and development through Callaghan Innovation and the National Science Challenges, develop a creative industries vocational pathway and secure export opportunities for public sector intellectual property, to name just a few initiatives,” Mr Joyce says.

“Nothing creates jobs and boosts incomes better than business growth and investment. For Wellington to build a more productive and competitive economy, it needs to achieve its potential.”

The Regional Economic Activity Report and interactive website are available at:

www.mbie.govt.nz/what-we-do/business-growth-agenda/regions

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