Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Provincial Growth Fund open for business

Hon Shane Jones
Minister for Regional Economic Development

23 February 2018
MEDIA STATEMENT

The new $1 billion per annum Provincial Growth Fund has been officially launched in Gisborne today by Regional Economic Development Minister Shane Jones.

“As of today, the Provincial Growth Fund (PGF) is open for business and has the potential to make a real difference to the people of provincial New Zealand,” Mr Jones says.

“We are being bold and we are being ambitious because this Government is committed to ending the years of neglect. Nearly half of us live outside our main cities. If this country is to do well, then our provinces must thrive.

“Our first regional packages support the regions most neglected by the last government: in Northland, Tairāwhiti-East Coast, Hawke’s Bay and Manawatū-Whanganui and the West Coast of the South Island.

“We are providing an immediate boost to these areas by investing $61.7 million into forestry initiatives, tourism ventures, rail and roading projects, and supporting these regions develop their proposals further to help them get off the ground.

“The first of many projects the PGF will support will create more than 700 direct jobs, and 80 indirect jobs – an impressive start to what will be an exciting three years for our provinces.

“If all the projects we’re funding realise their full potential, this will equate to more than $344 million of public and private investment for our regional economies.”

The PGF aims to enhance economic development opportunities, create sustainable jobs, contribute to community well-being, lift the productivity potential of regions, and help meet New Zealand’s climate change targets.

“The $3 billion will be fully committed over three years, making investment in the provinces more attractive for private sector investment, which has strongly favoured our main urban centres in recent years.

“We will form genuine partnerships up and down the country and provide the capital needed to stop projects languishing in long-term plans and regional action strategies.”

All regions are eligible for funding.

“An Independent Advisory Panel has been appointed to assist the decision-making of ministers and officials, supported by a new Regional Economic Development Unit within the Ministry of Business, Innovation and Employment to work directly with regions, ensuring this isn’t a Wellington-driven Fund.

“Our provinces are full of ideas and proposals. I have been heartened by the aspirations of so many businesses and investors, local councils, iwi, and community groups and I’m pleased to say that we now have a mechanism to see these realised.

“The announcements we’re making today are just the beginning and I’m looking forward to building on this momentum over the coming weeks, months and years and realising the untapped potential of our provinces,” Mr Jones says.

Attachments

NZ Regional Factsheet

Provincial Growth Fund Factsheet

Cabinet paper 1

Cabinet paper 2

Information on the newly-appointed chairperson of the Independent Advisory Panel.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Child Poverty Monitor: Food Poverty Due To Inadequate Income, Housing Cost

The latest Child Poverty Monitor released today by the Office of the Children’s Commissioner reveals alarming facts about children suffering the impacts of family income inadequacy, says Child Poverty Action Group (CPAG).

The report found that one in five children under the age of 15 - amounting to between 161,000 and 188,000 children - experience moderate-to-severe food insecurity, meaning they can’t count on having regular nutritious meals. More>>

 

Open Government: Proactively Release Of Ministerial Diaries

All Government Ministers will for the first time release details of their internal and external meetings, Minister for State Services (Open Government) Chris Hipkins announced today. More>>

ALSO:

Billion Trees: Questions Over Shanes Jones Carbon Claims

“Officials estimate the actual value of the One Billion Trees (OBT) scheme will be just a third of the amount Mr Jones claimed, at about $900 million, and that he padded the number by including $800 million of ETS benefits and $1 billion of business-as-usual activity..." More>>

'Sovereignty Concerns': Plans To Sign UN Migration Pact

New Zealand is likely going to sign up to a United Nations migration pact this week as long as it can iron out a concern around sovereignty. More>>

ALSO:

Most Vulnerable Face Most Risk: Sea Level Rise Threatens Major Infrastructure

The burden of sea-level rise will weigh on the most vulnerable unless a new approach is developed and legislated, a new report says. More>>

ALSO:

Gordon Campbell: On The Pope Of Parliament

’Tis the season of goodwill towards all humankind… except it would seem, towards the Speaker of Parliament... More>>

ALSO:

Abortion: Hundreds March To Call For Decriminalisation

About 300 protesters marched to Parliament this afternoon calling on MPs to vote in favour of decriminalising abortion. A recent report by the Law Commission to the government recommended removing it from the Crimes Act. More>>

ALSO:

Secondary Negotiations: PPTA Rejects 'Another Inadequate Offer'

Hard on the heels of an overwhelming rejection of the government’s second offer, the union’s representatives did not believe that the latest offer was good enough to take out to members... More>>

ALSO:

eGates And Social Security: PM Meets With Korean President Moon Jae-In

Our shared values and challenges, the situation on the Korean Peninsula and the opportunity to do more together were features of the meeting between Prime Minister Jacinda Ardern and the President of the Republic of Korea Moon Jae-in today in Auckland. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels