Provincial Growth Fund Projects
What does the Provincial Growth Fund Grant mean for our district?
Our Council was awarded two PGF grants to the value of $1.7 million. The two projects include $900,000 towards a feasibility study and business investment case for a Te Aroha tourism precinct and $800,000 towards a feasibility study for a Waharoa industrial hub.
What is the Provincial Growth Fund and what is its purpose?
The Provincial Development Unit (PDU) was established in 2018 within the Ministry of Business, Innovation and Employment (MBIE) to support delivery of government funding to enhance economic development opportunities in regional New Zealand.
The PDU works across government and with industry, communities, iwi and local government through 3 programmes:
- Provincial Growth Fund
- He Poutama Rangatahi
- Sector Workforce Engagement Programme
The PDU, working with an Independent Panel, is responsible for the design and administration and monitoring of the Provincial Growth Fund, in consultation with other government agencies.
The Provincial Growth Fund aims to lift productivity in the provinces. Its priorities are to enhance economic development opportunities, create sustainable jobs, enable Māori to reach full potential, boost social inclusion and participation, build resilient communities, and help meet New Zealand’s climate change targets.
You can find out more about how MBIE supports economic growth in the regions by visiting their website www.growregions.govt.nz