Hon Shane Jones

Minister for Regional Economic Development

6 April 2018

Diversifying Taranaki through future food opportunities

The Provincial Growth Fund (PGF) will invest in identifying future food opportunities with the greatest potential to help transform the Taranaki economy, Regional Economic Development Minister Shane Jones has announced.

The PGF will provide $175,000 to identify and prioritise major food-related opportunities in the region, as well as help develop a business case on the viability of establishing a Taranaki food network.

“Both of these initiatives provide opportunities to diversify the local economy, create jobs and attract investment into the region,” Shane Jones said.

“A long list of food related initiatives already exists in Taranaki. This funding will allow the region to focus on assessing and developing the best of these opportunities.

“Establishing a Taranaki food network is in the region’s economic action plan and has the potential to strengthen local food businesses and foster value-added food production in the region.

“Taranaki has the natural advantages of rich, fertile soil and abundant rainfall. The region is primed to diversify land use and optimise technology to become a major smart and innovative high value food producer,” Shane Jones said.

The region will receive up to $216,000 when it joins the Red Meat Profit Partnership Action Network to boost Taranaki’s sheep and beef farmer productivity and profitability.

These initiatives are part of Taranaki’s Future Foods action plan, which has a goal to increase the region’s GDP in food production from $1.3 billion to $1.5 billion.

The total cost of the future food initiative is $300,000 with the region contributing $100,000 and MPI providing $25,000.

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