Our objectives and allocations

New Zealand’s regions are vital to our economic future, with each region having its own opportunities and challenges.

The Government wants to support all regions to achieve their potential, so that we see improved living standards for all New Zealanders.

The RSPF aims to build more productive, resilient, inclusive, sustainable and Māori-enabling (PRISM) regional economies by delivering local approaches tailored to a region's particular needs and advantages. 

The RSPF will invest in projects which enable regional economic and business development, accelerate Māori economic aspirations and support sector transformations, with a focus on firm-level and commercial investments.

Considerations we make

The RSPF will invest in projects that will allow the Government to catalyse further investments into our regions’ futures to support them to be more productive, resilient, inclusive, sustainable and Māori-enabling. 

The RSPF will allocate up to $180 million for seed funding in three main areas: 

• enabling regional economic and business development
• accelerating Māori economic aspirations
• supporting sector transformations.

The remaining unallocated $20 million will be determined in response to emerging circumstances as they arise.

Enabling regional economic and business development

Up to $60 million is available for equipment, small-scale infrastructure, community assets and other capital improvements for organisations in places within regional New Zealand that could most benefit from economic support. A key aim of these investments is to support improved outcomes for multiple organisations within a community.

The RSPF is looking to invest in projects that:

• are in places within regional New Zealand that could most benefit from economic support
• also create benefits for organisations other than the applicant (such as other businesses, trusts, collectives and/or iwi)
• are receiving active support from at least one other government agency (such support might include additional funding, business and capability support and/or worker training)
• have sustainable funding for ongoing costs.

Information on the Regional Priorities can be found here: Regional economic development priorities

Accelerating Māori economic aspirations

While Māori economic aspirations will be supported through all areas of the RSPF, up to $40 million has been earmarked to help create productive whenua Māori assets and accelerate Māori economic aspirations.

Māori land has unrealised potential for productivity growth and economic benefits for whānau. Working with Māori landowners to unlock this potential and support their economic aspirations is critical to the Government’s goals to grow and share New Zealand’s economic prosperity.

The primary purpose of this funding is to provide financial capital to develop Māori land to deliver higher value production, support quality job creation, raise incomes and open opportunities for commercial partnerships.

Funding will support developments on undeveloped and underutilised land. This could include new developments on land blocks which may not have been previously developed or may have been previously leased by another party.

Supporting sector transformations

Up to $80 million is for investing as loans or equity instruments in businesses and organisations that have been identified by our regional partners as being a priority for the region’s economic future.

Ideally, projects should build off existing government regional economic development investment in the region, address an identified gap within a value chain, or produce added-value products or services.

These investments are targeted towards sectors where the region has a comparative advantage, provide a catalyst for economic development and contribute to broader government objectives.

The investments should also align with a sector’s relevant government and Industry Transformation Plan (ITP). Information on ITPs can be found here:

Industry Policy — Ministry of Business, Innovation and Employment