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TIN 100 contribute $9.4b to NZ economy


Hon Steven Joyce

Minister of Science and Innovation

19 October 2016
Media Statement


TIN 100 contribute $9.4b to NZ economy

New Zealand’s leading 200 hi-tech companies have reached combined annual revenues of $9.4 billion – up 12 per cent in just one year, according to the annual Technology Investment Network’s TIN 100 report released today.

“This year’s TIN 100 report tells an impressive story of innovation, growth and exporting success in New Zealand’s technology sector,” Science and Innovation Minister Steven Joyce says.

“The collective export revenues of the 200 largest tech companies are up by 13.5 per cent from last year to nearly $7 billion, while the total number of employees has increased by 7.9 per cent in the past year with nearly 3,000 new jobs created. These 200 companies now employ almost 40,000 people.”

The report shows revenue growth across all regions with Wellington leading regional revenue growth (15.3%), while Auckland contributed the greatest proportion of revenue ($5.4 billion).

It also shows revenue growth across all three main tech sectors – high-tech manufacturing, ICT and biotech, and across all twelve secondary sectors. Healthcare is the largest secondary sector with annual revenue of $1.69 billion, while the Digital Media and Financial Services Technology sectors, with a total of 23 companies, each grew by over 20 per cent.

Top performers include companies like Fisher and Paykel Appliances, Datacom Group, Fisher and Paykel Healthcare, Gallagher Group and Xero.

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“It’s particularly good to see that research and development across the TIN companies grew by a record 16 per cent in the last year to $827 million,” Mr Joyce says. “This is a real investment in the future of these companies, and will help lift overall the investment levels of New Zealand companies in research and development.”

“The Government is working hard through our Business Growth Agenda to develop New Zealand as a hub for high-value, research and development intensive businesses. It’s great to see New Zealand’s Top 200 tech companies leading the diversification of the New Zealand economy.”

ends

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