New Zealanders will be well acquainted with images of the Taranaki region, with Mount Taranaki standing proudly in the background, overlooking New Plymouth and its surrounds. 

Taranaki has already achieved strong economic success and the time is right to transition to a modern, high-value economy based on the skills, enterprise and knowledge of its people.

Taranaki’s action plan, Tapuae Roa - Make Way for Taranaki was launched in April 2018, with a commitment from the Provincial Growth Fund of up to $20 million.

The Action Plan was developed by Taranaki stakeholders, including local government, iwi, business and the community to set a course for the region’s future economic development.

With investment from the Provincial Growth Fund, a number of projects will be able to move from the planning stage to action.

Fast facts

  • Population estimate: 18,000
  • Average household income: $91,100
  • GDP per capita: $70,500
  • Tourism spend per year: $79.9 million

More facts: Regional Economic Activity Report


Funding announcements

Note: PGF funding is approved in principle and announced, after which contracts are negotiated. Some funding may depend on completion of business cases. Payments are made once agreed milestones are met. These are set as part of contract negotiations, and differ from project to project.

See more details about announcements on the Beehive's Regional Economic Development page.

Region Programme Organisation Amount Date
Taranaki Rail Freight Opportunities - New Plymouth Eastgate KiwiRail $ 250,000 23 February 2018
Taranaki H2 Taranaki - Roadmap Development Venture Taranaki Trust $ 50,000 6 April 2018
Taranaki The Business Guide to Tree Planting on Taranaki Hill Country Taranaki Regional Council $ 250,000 6 April 2018
Taranaki Business Case Development - Future Foods - Food Network Future Foods $ 50,000 6 April 2018
Taranaki Venture Taranaki Major Regional Food Opportunities Venture Taranaki Trust $ 150,000 6 April 2018
Taranaki Tapuae Roa: Māori Enterprise and Education Stocktake Taranaki Māori Trust Board $ 150,000 6 April 2018
Taranaki SH43 Business Case Development (Single Stage) New Zealand Transport Agency $ 400,000 6 April 2018
Taranaki Taranaki Crossing Experience To be confirmed $ 13,340,000 6 April 2018
Taranaki New Energy Development Centre Venture Taranaki Trust $ 100,000 6 April 2018
Taranaki Taranaki Innovation Precincts Venture Taranaki Trust $ 100,000 6 April 2018
Taranaki Taranaki Cathedral Project Taranaki Anglican Board trust $ 5,000,000 6 April 2018
Taranaki Hydrogen supply infrastructure front end engineering design, planning and cost estimation to support H2 Taranaki Hiringa Energy Ltd $ 950,000 12 July 2018
Taranaki General Manager Transitional Economy Venture Taranaki Trust $ 600,000 12 July 2018
Taranaki Support to fully commercialise production of finished engineered timber panels Taranaki Sawmills Ltd $ 2,250,000 15 November 2018
Taranaki Taranaki - Business Case Development for Taranaki Crossing Venture Taranaki Trust $ 50,000 7 January 2019
Taranaki Tapuae Roa:Project Coordinator ( Venture Taranaki as lead ) Venture Taranaki Trust $ 210,000 7 January 2019
Taranaki Taranaki Regional Investment Fund Venture Taranaki Trust $ 50,000 7 January 2019