Employment, education, opportunity the focus of Regional Council fundi
9 September 2013
Bay of Plenty Regional Council has allocated $40.5 million to infrastructure projects that will create employment and education opportunities across the region - with no impact on rates in coming years.
Regional Council created the Regional Infrastructure Fund several years ago, through sale of perpetual preference shares in Quayside Holdings, our investment vehicle for our majority ownership of the Port of Tauranga, said chief executive Mary-Anne Macleod.
We've retained our 54.9 percent ownership of the Port, but also released value for infrastructure funding. The Council is committed to supporting economic growth in this region, she said.
A new Innovation Centre at Rotorua's Scion Innovation Park, a shared tertiary CBD campus and a Harbour Marine Precinct in Tauranga, and the proposed Ōpōtiki Harbour Transformation Project will all benefit from the Regional Infrastructure Fund, she said.
These projects have the potential to deliver considerable employment, education, and other opportunities for our region, she said.
The Scion Innovation Centre will be a hub for research and development firms in the forestry and wood sectors, creating cluster of like-minded businesses for collaboration and innovation. Council has allocated up to $2.5 million to this project.
The Tauranga shared tertiary campus will create opportunities for and provide better access to tertiary education for the Bay of Plenty's young people, attract young people from outside our region to come here to study; provide a research and development hub; give young people skills needed in the local economy. Council has allocated up to $15 million to this project.
The Marine Precinct at Sulphur Point will provide purpose-built marine servicing facilities and infrastructure, supporting the maritime industry in this sub-region. Council has allocated up to $5 million to this project.
The Opotiki Harbour Transformation Project will enable all-weather, all-tide access into Opotiki Harbour, critical to the success of the eastern Bay's growing aquaculture industry and its potential to provide local jobs and business opportunities. Council has allocated up to $18 million to this project.
Congratulations to all the successful projects, Ms Macleod said. Our staff are now working with the successful applicants to progress contractual requirements, and we expect the projects to come on stream' over the next few years.