Investment in our regional economies continues

On Friday 28 July, Minister of Regional Development, Kieran Mcnaulty announced a $48.5 million investment from the Kānoa Regional Economic Development and Investment Unit’s Regional Strategic Partnership Fund (RSPF). This investment will support 13 projects around New Zealand, including nearly $14 million to generate economic activity in the cyclone Gabrielle-hit east coast.

“We continue to invest in those regional economies where there is best impact, and where unique business activities can flourish in those local settings. This enables regional economies to become more productive, resilient, inclusive and sustainable,” Kieran McAnulty says.

Since 2018, $3.2 billion has been paid out from the 8 regional investment funds administered by Kānoa to support our region’s economies. 1,148 projects have been completed.

“Through a mix of grants, loans and equity, we’re investing in projects that will enable our regional businesses to continue to grow.”

The Regional Strategic Partnership Fund

Latest RSPF projects

Northland

Te Rarawa Bells Produce Packhouse

Construction of a new packhouse and cool store to facilitate processing of Te Rarawa's expanded horticulture production.

Recipient: Bells Produce Limited

Amount: $6 million RSPF loan

Muriwhenua Spat Farm

Establish 2.07 hectares of consented water space as a mussel spat farm, in the Whangape Harbour.

Recipient: Muriwhenua Developments Charitable Trust

Amount: $1.5 million RSPF loan

Kaikohe Berryfruit Packhouse

Develop a packhouse, cool store, and staff facilities, and expand the Kaikohe Berryfruit strawberry and vegetable growing platform near Kaikohe.

Recipient: Kaikohe Berryfruit Limited Partnership

Amount: $4.0 million RSPF loan

Bay of Plenty

Te Huata Mussel Spat Hatchery

Continued equity investment into a $40 million Mussel Spat Hatchery near Te Kaha.

Recipient: Te Whānau-ā-Apanui (through Te Huata)

Amount: $13.9 million RSPF equity

Tairāwhiti East Coast

Cyclone Gabrielle bespoke funding

Corson will purchase damaged crops from Tairāwhiti maize growers for animal feed - to support local growers and ensure continuity of supply in future years.

Recipient: Corson Grain Limited

Amount: $6.0 million RSPF loan

Cyclone Gabrielle bespoke funding

Supporting supply and logistics for Cedenco, whose supply chain was heavily impacted during highest seasonal demand.

Recipient: Cedenco Foods New Zealand Limited

Amount: $8.0 million RSPF loan

Waikato

Establishment of ESP Medical device manufacturing plant

Plant and laboratory to accelerate ESP Medical - medical advice division.

Recipient: ESP Medical Limited Partnership

Amount: $850,000 RSPF loan

Hawke's Bay

Zeffer Brewing expansion project

Supporting production and capital upgrades to focus on Zeffer's growth strategy and 0% alcohol range.

Recipient: Zeffer Brewing

Amount: $1.06 million RSPF loan

Small Seed drying unit

Funding to support the construction, purchase, and installation of the seed drying facility for local landowners to service the growing demand for small seed production.

Recipient: Central Hawke's Bay District Council

Amount: $650,000 RSPF grant

The Limery, Wairoa - facility expansion

To design and construct a new lime storage shed to support increasing yields from existing and new growers in Wairoa and Tairawhiti.

Recipient: Kopu Road Orchards Limited

Amount: $300,000 RSPF grant

Manawatū-Whanganui

SunScout

Supporting the manufacturing of solar powered robot lawn mowers in Palmerston North for the Asia/Pacific market.

Recipient: SunScout Limited

Amount: $3.0 million RSPF loan

Southland

Garston Hops

Set up of hop processing facility to enable expansion of the hop industry in Southland.

Recipient: Garston Hops Limited Partnership

Amount: $2.5 million RSPF loan

Prefabricated and modular housing construction facility in Southland

Establishing the first prefabricated and modular housing construction facility in Southland to increase housing supply for the region.

Recipient: Seven2 Limited

Amount: $740,000 RSPF loan