Government Announces an Regional Economic Development Fund
The $1 billion Provincial Growth Fund launched by the Government on 23 February will give New Zealand’s regions a boost and help unlock the potential of our rural and smaller centres, Local Government New Zealand says.
The Provincial Growth Fund, launched in Gisborne by Prime Minister Jacinda Ardern and Minister for Regional Economic Development Shane Jones, detailed the Government’s plans to help New Zealand’s regions maximise their opportunities to boost local economies.
New Zealand’s regions are significant contributors to the economy but a range of factors including population and technological changes mean some have struggled. While in recent times economic growth has returned to some areas, this has been uneven and has led to stark discrepancies between sometimes neighbouring regions.