PGF grows Māori economy
Published: Apr 28, 2020
- News and announcements
- Top of the South/Te Tau Ihu
- Hawke's Bay
- Bay of Plenty
- West Coast
- Northland/Te Tai Tokerau
Provincial Growth Fund (PGF) support for the Māori economy is expected to have far-reaching effects, a report from the New Zealand Institute of Economic Research (NZIER) has found.
The report assessed the PGF’s direct investments in the Māori economy, which represent $495 million of committed and allocated funding.
On a national level, NZIER found PGF investment is expected to increase New Zealand's overall GDP by nearly $250 million.
This is expected to create 1,257 jobs with the added value of benefits in capital and land value and is equivalent to an extra $87 million in the pockets of New Zealand’s households.
On a regional level, Bay of Plenty and Northland are set to reap the highest benefits of the PGF’s investments. The economy of Bay of Plenty will become $55.3 million bigger, while the Northland region is expected to grow by $54.8 million.
Although the PGF has a regional focus there are flow on benefits to the country as a whole. For example, Auckland’s economy will benefit from increased activity in large industries, particularly construction.
The report analysed multiple funding streams across the Provincial Development Unit including Whenua Māori, Marae Connectivity, He Poutama Rangatahi and Te Ara Mahi.
Download the NZIER report: