Good News for HB Economic Development Projects

New Zealand Trade and Enterprise has allocated $356,000 in grants for 5 Hawke’s Bay economic development projects in the coming year.  With local industry putting in their share of 20% of the funding, a total of $500,000 will be invested in economic development.

“This is good news for the region and will provide a good foundation for the region’s economic development into the future,” says Ross Bramwell, Chairman of the Regional Governance Group which endorsed the application.

Venture Hawke’s Bay has coordinated applications for the funding and this year were successful in getting funding for all the projects, which are in line the current Regional Economy Development Strategy.

“This funding and the fact that so many companies are working together for common outcomes endorses the regional strategy, and it should give us all confidence when review of the strategy over the coming year,” said Mr Bramwell.

One of the NZTE funded projects will be the review of the regional economic development strategy this year.  The current strategy was prepared in 2007 with industry input and prioritised the needs of local industry. 

Four other economic development projects have been approved for funding.

A project to increase the productivity and competitive advantage of Hawke’s Bay’s red wine producers will be funded and will build on previous year’s work.  It aims to provide the individual wineries and producers with information and tools to better position themselves in overseas markets.

A project to pilot a ‘Food Hub’ to link Hawke’s Bay food businesses to industry, government and research providers through existing Food Hubs elsewhere in the country.  This will provide scale that Hawke’s Bay businesses on their own cannot achieve, and they will be able to respond more quickly to export opportunities.

A supply chain mapping project will look at regional patterns of supply and where gaps and duplication can be overcome. Ten Hawke’s Bay businesses are involved and each company involved will be able to use the information gains to improve their own business supplies.  It is hoped that this will provide an example to other regions.

Another project will help a cluster of engineering technology and design companies to develop as a group and increase collaborative opportunities for business growth.

This is the final year of the NZTE’s Regional Strategy Fund which allocated $750,000 to each region over a 3 year period.