Investment in our regional economies continues
Published: 8 August, 2023
The Government is continuing to invest in our regional economies as part of an ongoing strategy to develop these areas to become more productive, resilient, inclusive and sustainable.
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.”
Latest RSPF projects
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
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
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
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
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