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Innovation and retail key to Wellington’s economic growth

Hon Steven Joyce
Minister for Economic Development

15 October 2015

Innovation and retail key to Wellington’s economic growth

Economic Development Minister Steven Joyce today released the 2015 Regional Economic Activity Report, which highlights areas of growth and opportunity for the Wellington region.

“Wellington has the second largest economy in New Zealand, has the highest mean household income and has a wide range of economic activities within the region. The Report shows that the region is becoming more diverse and building its competitive advantage across a range of sectors.” Mr Joyce says.

“The Report highlights the strength in the region which include innovation, Research and Development, the creative industries and information technology. There are also major infrastructure projects such as Transmission Gully and the Kapiti Expressway that are creating employment and development opportunities.

However, the Report also identifies the opportunity for the region to grow the retail sector and attract more skilled people over the coming years.” Mr Joyce says

The Report was produced by the Ministry of Business, Innovation and Employment, and provides the most recent facts on the economy of each region. It supports the Government’s Business Growth Agenda by increasing understanding of the New Zealand economy and its component regional economies. The report highlights trends and opportunities for each region, to inform better decision making and investment attraction.

“The Government has a full range of projects in the Business Growth Agenda to help the Wellington benefit from its economic opportunities. We will continue to work with Wellington’s business and community leaders to build on its strengths and attract new investment to grow jobs and incomes.”

The 2015 Report is complemented by a data-and-functionality-enhanced web tool as well as a new mobile app with interactive maps and charts. This information will be regularly updated as new statistics become available.

“The improved web tool and new mobile app will make it easier for councils, business groups and residents of different regions across New Zealand to compare and contrast the economic fortunes of different regions, and explore in more depth how economic growth can be achieved in their particular region,” says Mr Joyce.

The Regional Economic Activity Report and interactive website are availableHERE

ENDS

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