The Provincial Development Unit (PDU) administers the Provincial Growth Fund (PGF) and a range of other funding.
Regional Investment Opportunities
As part of the government’s $12 billion New Zealand Upgrade Programme, $300 million was allocated for Regional Investment Opportunities (RIO), administered by the Provincial Development Unit.
RIO funding has been invested in land, sea and air projects. These projects will result in job creation, enhance regional economic development opportunities, increase infrastructure resilience and help regional economies thrive.
In February 2020, approximately $190 million of funding was announced for projects across New Zealand, including:
• roading projects
• coastal assets
• upgrades to Taupō and Milford airport terminals.
In May 2020, unallocated funding from this allocation was refocused as part of the Provincial Growth Fund (PGF) reset.
Read the Regional Investment Opportunities announcement:
Strategic Tourism Assets Protection Programme
The Strategic Tourism Assets Protection Programme (STAPP) has been allocated to support tourism businesses and Regional Tourism Organisations.
STAPP’s objective is to support tourism assets of strategic importance which significantly contribute to local economies. Successful applications were required to meet the following eligibility criteria:
- must be a tourism asset (attraction, access or amenities) of strategic significance in either a national/regional, cultural, environment, historic context
- must have exhausted all other avenues of financial support from both government broad-based and private funds.
Full assessment of eligible applications was carried out by the Provincial Development Unit and final decisions for approval were made by the Tourism Recovery Ministers group.
Published: Nov 25, 2020