Southland receives $1.7m Provincial Growth Funding

Regional Economic Development Minister Shane Jones has announced a further $1.7 million funding package for Southland from the Provincial Growth Fund.

Jones confirmed in Invercargill on Thursday that the PGF will invest in air connectivity, water storage, business growth and economic development in Southland.

The four projects announced are:

  • Invercargill Airport air cargo and terminal development (Invercargill Airport Limited) – $500,000

  • Establishment of a business start-up investment network (COIN South) – $550,000

  • Oreti managed aquifer recharge pilot (Oreti MAR Limited) – $593,481

  • Stewart Island/Rakiura economic development plan (Southland District Council) – $100,000

"These projects have been selected for funding because we know that they will help drive Southland's economic growth. These projects will help turn the region's strategy into action," Jones said.

The PGF will help Invercargill Airport make necessary upgrades to prepare it for the first direct jet connection between Auckland and Invercargill since 1995.

"It will make it easier for Southland-based industries, especially aquaculture, to export their perishable goods to key domestic and international markets," Jones said of the direct flights.

Young businesses in Southland will also get a leg up with COIN South receiving PGF funding to establish the COIN South business start-up investment network.

"Enabling Southland to retain and grow young businesses is a no-brainer. These businesses could otherwise leave the region in search of capital."

The Oreti Managed Aquifer Recharge (MAR) testing project will explore options to improve the management of groundwater storage.

"Water storage is a major issue in Southland, with water shortages being a key barrier to growth. This investment has the potential to bring environmental, social and economic benefits to the region and help to grow a sustainable primary sector."

The PGF is also funding the Stewart Island Future Opportunities project to assist in the planning of its economic future.

"Stewart Island/Rakiura only has around 400 residents, but attracts close to 40,000 visitors per year. The PGF is proud to be helping Rakiura leverage its economic opportunities so that it continues to punch above its weight.

While Stewart Island only has around 400 residents, visitor numbers are close to 40,000 per year. This project will leverage on tourism opportunities and contribute to the Southland Regional Development Plan's goal of doubling tourism revenue to $1 billion by 2025.

The latest announced takes PGF's approved contribution to Southland to $16.7m for 13 different projects.

In February last year, the Government announced an allocated $3 billion to the fund, over three years, to enhance economic development and employment opportunities in regional New Zealand.

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