Excellent Turnout For Economic Evening

Enterprise Lake Taupo, the region’s economic development agency, organised an information session yesterday evening, with presentations by renowned economist, Sean Bevin, and by Craig Stephenson from Contact Energy.

Mr Bevin presented a snapshot report on the state of the local economy, including those sectors that have fared better during the current economic recession. He highlighted the importance of the tourism and retail sector for our local employment numbers, and the high value of the energy sector to our local economy.

Some of Mr Bevin’s key findings are:

1. Steady retail growth over last 5 years (notable as GDP (gross domestic product for Lake Taupo region) overall has shrunk in the past 2 years)

2. House sales up in the year ended March 2010

3. Visitor nights have declined steadily over last 5 years

4. Employment overall is steady

5. Energy sector provides more GDP than any other sector ($95 million)

6. We have a high concentration of primary production (agriculture and forestry) and construction here in the region than elsewhere in NZ

7. We have a higher concentration of people employed in small business than is typical for the rest of NZ

8. Growth areas have been government, agriculture and forestry, communications, finance and energy

9. Areas being picked for future growth by various commentators are agriculture, construction, health and community services, transport and storage, recreational services and tourism, retailing and energy.

Mr Bevin’s comments were echoed by the Enterprise Lake Taupo Chairman, Tom Findlay, who focused on the energy sector opportunities for our region.

Craig Stephenson also gave some detailed and fascinating information on Contact Energy’s role in the community, and the specific plans for development of the proposed ‘Tauhara 2’ geothermal plant.

Mr Stephenson presented a simple explanation on the production methodology of geothermal energy, and also explained why geothermal is a leading source for energy production.

Around 80 people representing most sectors of the local business community attended the presentations.

“We were very happy with the turnout for the event,” said acting Business Development Manager, Sue de Bievre. “It is pleasing to know that the wider business community is interested in how Taupo is performing from an economic perspective, and there was a lot of interest in the Contact proposal as people could see the significant positive economic impact the development would bring to the district.”

”If anyone would like more information or a copy of the presentations, please feel free to contact me or download them directly from our website (www.enterpriselaketaupo.co.nz),” said Mrs de Bievre.”

ENDS

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