9 August 2007

Hobsonville Marine Announcement A Timely Boost For Auckland’s Economy

The Government’s $2 million contribution to a superyacht building precinct at Hobsonville is a significant step forward for the region’s economy says AucklandPlus Chairman Michael Barnett.

Economic Development Minister Trevor Mallard announced the Major Regional Initiative (MRI) and the Government’s contribution in Auckland today.

Michael Barnett says this initiative is critical for Auckland’s future because it represents the type of innovative, high end, high technology export focus needed to transform the Auckland region’s economy.

“We know that our domestic market is small. We know that the way to grow business and the economy in Auckland is through exporting – difficult as that may seem at the moment,” Mr Barnett says.

“The marine industry is an example of a sector where Auckland has the opportunity to compete globally as an exporter of innovative high value products and services that are permanently in demand for their quality and brand recognition.”

“The focus of this initiative announced by the Minister today is to grow high end, high technology exports in a rapidly growing market. The announcement is timely because 2007 is Export Year and this initiative sends a clear signal about the type of exports that represent the Auckland region’s economic future.”

Mr Barnett says with large NZ superyachts now generating as much as $50 million each, Hobsonville is likely to bring about a significant change in Auckland’s and New Zealand’s export receipts.

“There are also the widespread benefits of the vast value chain associated with this development – from innovative design and materials to high technology equipment, luxurious furnishings, skilled labour - so many of our companies and our communities around the Auckland region will benefit from the Hobsonville development.”

Mr Barnett says the Hobsonville Marine Precinct development fits with the objectives of Auckland’s Metro Project Action Plan.

“AucklandPlus is leading a workstream dedicated to boosting Auckland’s business innovation and export strength. And this initiative is an example of that concept in action,” he says.

“The challenge, which AucklandPlus and others have taken up, is to develop a co-ordinated regional approach to nurturing innovation that will pave the way for many more success stories in high end, high technology exports and play a major role in transforming the Auckland regional economy.”

Mr Barnett says the government should be applauded for its announcement today, as should the Marine Industry Association, Waitakere City Council and NZTE, who all worked with AucklandPlus to develop the MRI business case supporting this initiative.

ENDS

© Scoop Media